Family tracking app Life360 to obtain wearable area device Jiobit for $37M

by RJ Shara | Apr 27, 2021 | Fundings and Exit, Startups

Popular family tracking app Life360 is purchasing hardware. The business today announced the $37 million acquisition of Chicago-based Jiobit, the maker of a wearable location gadget designed for use by families with younger seniors, children, or pets. The $37 million is mainly in stock and debt, Life360 notes, however if particular efficiency metrics […] Life360 pictures adding the Jiobit to its existing household safety membership, allowing family members and animals with the device connected to show in the Life360 mobile app’s map interface, alongside other family members. Life360’s paid users(Premium members) would get a reduced Jiobit along with their membership.”We have actually long wanted to expand beyond the mobile phone into wearable devices, and Jiobit provides the market leading device for family pets, younger kids, and seniors,”said Chris Hulls, CEO and co-founder of Life360, in a statement about the deal.” With Jiobit, Life360 would be the market leader in both hardware and software products for households once the offer closes. …