Family tracking app Life360 has laid off 14 percent of its staff in a bid to hasten its cash flow-positive plans, following a membership price rise and a fresh $50 million capital raise in the final quarter of last year.
Life360 has spent the past several quarters merging its operations with acquisitions Jiobit and Tile and said on Friday the restructure would boost its operating cash flow and adjusted earnings into positive territory during the second quarter of this year.
Life360 operates a platform for today’s busy families, bringing them closer together by helping them better know, communicate with, and protect the people they care about most. The Company’s core offering, the Life360 mobile app, is a market-leading app for families, with features that range from communications to driving safety and location sharing. Life360 is based in San Francisco and had more than 33 million monthly active users (MAU) as of June 2021, located in more than 195 countries.