LONG BEACH, Calif.–Sunstone Management, a diversified capital management and investment firm based in Long Beach, Calif., welcomes the announcement that shares of Life360 have begun trading on the Australian Securities Exchange (ASX) under the symbol “360.” The initial public offering is expected to be the largest Australian IPO since 2016.
Life360, which has added more than two million monthly active users since 2018 and currently boasts 20.6 million monthly active users on the platform, operates the world’s leading location and driving safety service application and helps protect and connect families by offering intelligent location sharing, coordination and driving safety features. Proceeds raised in the IPO totaled AU$145.4 million.
“As an early investor in Life360, we are excited to celebrate this milestone,” said John Shen, founding partner of Sunstone Management. “Watching Life360’s growth has been extremely gratifying, and we know that the future holds even more success for this innovative service provider, for our investors and with consumers worldwide.”
Chris Hulls, cofounder and CEO of Life360, said of the IPO, “Today’s ASX listing is a tremendous milestone. It marks the next stage in our company’s growth and strategy to build Life360 as the number one choice for families to connect and live their lives with confidence. It is a credit to the entire Life360 team and the support of our foundation investors who remain right behind us. We are investing to deliver the best product experiences, expanding our services, and growing our users worldwide. We are firmly focused on strengthening the fundamentals of our business over the medium term and delivering long-term shareholder value.”