Tile and Jiobit device data to underscore our clear message that data from Tile and Jiobit devices is not, and will never be, sold or monetised.” Life360 will also be receiving a 10 year warrant exercisable to purchase up to US$25m in Placer.ai, which recently completed a US$100m capital raise. This agreement includes a minimum revenue guarantee based on the size of Life360’s active user base, which we expect will preserve revenue in-line with CY21 results for the duration of the three-year agreement. As a result, we believe this partnership will enable us to spend less time navigating the rapidly evolving regulatory and platform environment, while simultaneously reducing business risk.
Life360 recognises that aggregated data analytics (for example, 150 people drove by the supermarket) is the wave of the future and that businesses will increasingly place a premium on data insights that do not rely on device-level or other individual user-level identifiers. We have begun terminating our relationships with all other location data partners with the exception of Allstate/Arity, which will continue. As part of this partnership, Placer will have the right to commercialise solely aggregated data related to places visits during the term of the agreement. With this agreement, Placer.ai will provide critical data insights and analytics services to Life360, which will enhance the product experience for our users. From Life360’s quarterly activity report released yesterday: Life360 has a new data collection deal with Placer.ai, which the company says is the start of its exit from the “traditional” data broker business, which will only include “aggregated analytics” that it says will help retail businesses understand customers better. Now, it says it’ll instead sell aggregated user data to one location data firm: Placer․ai. Life360 was one of the multibillion-dollar location data industry’s largest raw data sources.
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