An app designed to help parents keep track of their teenage children is gaining popularity in Australia
Life360’s Australian share price doubled over the last financial year, rising 115.4 per cent to $16.37.
The local division of the Californian tech company, with 66 million active users worldwide, describes itself as “Australia’s leading app for location sharing and family safety.”
But Steven Daghlian, a market analyst at CommSec, said the information provided by the app could be useful in many ways.
“It’s a location tracking app – it’s probably more wives who are monitoring their husbands, I’d say, than the other way around,” she told Daily Mail Australia.
But above all, Life360 is about parents keeping track of their teenagers.
“It’s growing very aggressively – people want to keep an eye on their families, especially those with children,” Daghlian said.
“That’s something people still care about: their children, regardless of the pressures of the cost of living.”
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Daghlian said the free service was performing much better than the subscription-based one, with global user numbers up 30 percent in a year.
“More than half of them are in the United States, so the fact that it is growing in that large market is also important,” he said.
‘Their goal is to increase advertising revenue for users of the free app as well as those of the paid app.’
Life360 was launched on the Australian Securities Exchange in May 2019, when it was valued at $5.27 per share.
In 2023-24, it was one of only two ASX-listed companies to see its share price double, alongside medical imaging company Pro Medicus.
Life360 is proving so popular that its Australian share price has doubled over the last financial year, rising 115.4 per cent to $16.37.
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