Shares of the location and driving safety service app now trading on
LONG BEACH, Calif.–(BUSINESS WIRE)–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
About Sunstone Management
Sunstone Management, with its subsidiary Sunstone Venture Capital Fund,
is a diversified private capital management and investment firm offering
comprehensive wealth management solutions to high net worth clients
worldwide, in particular U.S. new-immigrant families. Focusing on
investments in U.S. based small businesses and lower middle markets, its
offerings are carefully structured to meet targeted investor goals
ranging from short term senior debt products to longer term, equity,
growth capital, and venture capital investment strategies.