Life360 has acquired Tile for $205 million

The well known item tracker, Tile, has been acquired by Life360 for $205 million.
cyzgOcmn_400x400.jpg
3 min read
Tile

Tile, founded in December 2012, is a company that is well known for its item trackers which can be attached to many things such as keys and bags. The devices work using Bluetooth which connects to other devices that work with Tile, such as the companion applications on Android / iOS and as of recently Tile devices have been able to connect to Amazon devices using Amazon Sidewalk. All of this allows Tile users to locate their items using the Tile network of supported devices (as mentioned).

Life360, which is a family safety application with features such as location sharing, has now acquired tile for $205 million. It has been confirmed that there are currently no plans to change the Tile team or the Tile brand.

In July (2021), Life360 announced that the company has over 1 million paying members and that the company is valued at over $1 billion. The company also announced that it delivered a record quarter of Monthly Active Users which was 32.3 million and it also reported an Annualised Monthly Revenue of over $100 million which was an increase year-on-year of 36%.

Earlier this year Life360 also acquired another hardware tracking device company called Jiobit, this acquisition was recently completed.

Tile has faced increasing competition for its devices in recent times, as similar products have been released such as AirTags by Apple and the Galaxy SmartTag from Samsung.

The offering from Apple’s AirTags and other competitors has put some pressure on Tile, as AirTags have access to the huge Find My network from Apple by default, which allows AirTags to connect to any iPhone nearby and updates the location of the AirTag. For Tile to do this the Tile device has to be near another user who has the Tile application.

Although it is worth noting that Apple has opened up it’s Find My network. Another item tracker company released a new device called the Chipolo ONE Spot which uses the Find My network, allowing it to get the same benefits as the Apple AirTag. However, Tile never opted in to using the Find My network from Apple.

Chris Hulls, CEO and Founder of Life360 has said:

“Today begins a new chapter in Life360’s history. I’m excited to announce our acquisition of Tile. This is genuinely the most impactful deal in our company’s history, and along with the addition of Jiobit from earlier this year, our vision of linking people, pets and things all in one place is now complete, putting us closer to realizing our vision of being the world’s leading platform for safety and location services. Individuals and families around the world will now be able to quickly and easily locate the people, pets and things they love all from one mobile platform.”

He also added:

“We almost joined the forces a number of times in our history, and I have been close with Tile’s current CEO, CJ Prober, since he took the reins in 2018. For me and Life360, this is THE acquisition I’ve been hoping to make for the better part of a decade.”

Life360 and Tile membership offer
Photo By: Life360 and Tile membership offer

In the announcement by Life360 of the Tile acquisition, the company revealed it will now also be offering a free Tile pack when users upgrade to Life360 Platinum and also Tile users who upgrade to Tile Premium will get a free Life360 membership.

Life360 is listed on an Australian stock exchange and previously announced they have plans for a dual listing in the United States in 2022.

Written By

Cables

Cloudflare Inc. Earnings Report (Q3 2021)

Apple Event March 2022

March 2022 Apple Event