Tracking Device Startup Jiobit To Be Acquired By Life360 In $37M Deal

San Francisco tech firm Life360 is acquiring Chicago-primarily based Jiobit in a deal that can help reassure mother and father who wish to know where their children are. On Monday, tracking technology Life360 introduced that it entered a tentative, non-binding agreement with Jiobit to accumulate the corporate for $37 million. Life360 added that the dollar amount might improve to $54.5 million if certain efficiency metrics are met within the two years following the deal. Founder and Tagsley tracking card CEO John Renaldi began Jiobit after a scary experience, the place he misplaced his six-12 months-outdated son in a crowded Chicago park for more than half-hour. After the incident, Renaldi searched for a wearable machine that would help him keep track of his son, but he wasn’t satisfied with any of the available products. Jiobit has created a small gadget that makes use of GPS, cellular data, bluetooth and Wi-Fi to show its location at all times through a corresponding app. Parents can use this machine to entry accurate data on the place their youngsters, pets or older family members are.



The machine is also long-lasting, so it can go a number of days between charges. Life360 is a popular tech firm throughout the household-monitoring house, with over 26 million month-to-month lively users throughout 195 nations as of December of 2020. Its mobile app allows families to share their location, communicate with each other or get varied security updates. But Life360 works by using a phone’s built-in GPS tracker and accelerometer in order to track a person. This is great for a parent who wants to trace their teenager who has a smartphone, but won’t work if the trackee doesn’t have a cellphone. By acquiring Jiobit, Life360 will be ready to incorporate the company’s hardware, and provide tracking technology options for younger children, pets and the elderly - giving Life360 more space to develop. "We’ve long needed to broaden past the smartphone into wearable devices, and Jiobit affords the market-leading machine for pets, youthful children, and seniors," Life360 CEO and co-founder Chris Hulls said in a press release. "With Jiobit, Life360 can be the market chief in both hardware and software program merchandise for families as soon as the deal closes. "Life360, as the main smartphone platform for households, is the natural dwelling for Jiobit," Renaldi added. "We have the same shared long-time period vision round the way forward for the digitally native family, and this roll-up is a natural accelerator.



Geofencing is a technology quietly reshaping the marketing and consumer engagement panorama. It establishes virtual boundaries round bodily spaces, linking your gadget to businesses and services effortlessly. Once you step throughout these boundaries, you receive timely messages - reductions, event reminders or exclusive gives - all personalized to your location. While this tech advantages specific sectors, it raises main privacy considerations as it includes tracking your location, which can result in questions about knowledge privateness and consent. Geofencing is a digital know-how that establishes virtual boundaries around a selected geographical space. It's like drawing an invisible fence on a map round a spot, similar to a coffee shop, a park or a complete neighborhood. This know-how displays devices like smartphones - which depend on GPS, WiFi or Tagsley smart tracker tracker cellular knowledge - as they enter or exit these outlined areas.