21_Life360_Final
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Life360 is your family’s safety and security solution. From keeping track of your kids to protecting your identity and getting back your lost stuff, Life360 is the place you go to manage life’s what-ifs. The company is currently funded by Google ($300,000 grant) and the Facebook Fund. Life360 is in private beta and will be launching to the public this Fall.
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21_Life360_Final
- 1. Keeping your family safe, secure, and prepared Contact: Chris Hulls, CEO chris@life360.com |(415) 462-0002 x706
- 2. a lot of things annoy, frustrate, and scare us What if Amy gets lost at Disneyland? Dad just got in a car accident We aren’t prepared for an earthquake Why was that guy following me Jon missed cu Damn… I left my backpack at the ballpark
- 3. A lot of products out there solve these “what ifs”
- 4. Who is the leader in family safety and security?
- 5. With Life360 tools you can do things like… • Track your family and pets on a map • Recover lost items, like your phone • Get identity theft protection coverage
- 6. Pick and choose from Life360 services using an iGoogle style interface
- 7. Promising Pre-Revenue Validation: 25%+ conversion Platform 44% > single service $1.20 acquisition cost FIRST PRIZE WINNER
- 8. Seed Financing Summary Big Picture 500k / 1 year runway = 50,000 users, 10% paid Profitable user acquisition Cash Flow Break Even
- 9. Questions? Chris Hulls chris@life360.com (415) 462-0002
Editor's Notes
- I’m Chris Hulls, I’m cofounder and CEO of Life360. I’m also here with Dilpreet Singh, our cofounder and CTO. As a one sentence summary, Life360 is building an OnStar for your family’s everyday life. We want to become the place people go to keep their families safe, secure, and prepared. Life360 in one sentence We are like an OnStar for all the everyday things you and your family might worry about—from protecting your identity to finding and communicating with your family after a major emergency What this presentation is Read/watch this presentation to get a high level overview of the Life360 service and the “what if” space. What this presentation isn’t DON’T expect detailed numbers or market analysis—we have plenty of that data, but that isn’t the aim of this presentation. We want you to get the concept and be excited about the product, then we can get into specifics
- Before I go into the specifics of what we do, I want to quickly frame the market and the problem. Big picture, there are a lot of things that annoy, frustrate and scare each of us. Some people worry about major natural disasters, some people worry about losing their stuff, some people worry about having their identity stolen…it’s different for everyone. Shit Happens: 60 million phones and 800,000 memory devices (laptops, smart phones, memory sticks) are lost or stolen every year 7 out of 10 children get lost at least once in their lifetime, 90% of families are effected, and it can happen in any public place such as a mall, beach, amusement park, fair, or airport In 2007, there were an estimated 6,024,000 police-reported traffic crashes, in which 41,059 people were killed and 2,491,000 people were injured The Red Cross responds to more than 70,000 disasters — including approximately 150 home fires every day Nearly 200,000 people die each year due to misdiagnosis or medical error – a direct result of lack of information regarding medical history and medical conditions The Problem: We all have our own set of things that keep us up at night. Some people worry about their kids, some people worry about losing their stuff, others worry about “the big one”—we don’t know exactly what concerns you, but its rare that someone isn’t annoyed, scared, or frustrated by something. Why isn’t there an easy way to take care of this stuff? The Opportunity: Web and mobile technology can be used to solve these issues, but as of now, companies in the space serve niche needs and don’t truly leverage the power of the web to provide a comprehensive one-stop portal that completely manages this aspect of daily living. Why should I want to/have to sign up for 5 different services to get this peace of mind? Our Question to You: What things do you worry about that you would pay a few bucks a month to take care of?
- And as daily life has become more complex, quite a few companies have started offering products that solve these “what ifs”, and a lot of people are making a ton of money in the space. As one example, let’s look at LifeLock. They’re the guys selling identity theft protection coverage for 10 bucks a month. They went from zero to over 1.8 million paid users in under 3 years. Each vertical has existing players that validate the space A few examples: Disasters: Ready.gov Credit and Identity: LifeLock Family and Medical: LifeAlert Pets: Zoombak Property: Asurion Each vertical is already a very large market—Asurion alone has $1.2bn revenue just from protecting cellphones.
- Shopping: ebay, mint Travel: Orbitz, Travelocity Money management: Mint
- For those of you who aren’t familiar with the services out there in the “what if” space, let me review what a few Life360 tools can do so our product is a more tangible. -You can use your cellphone to track your family, and a GPS chip to make sure your dog doesn’t run away, and you’ll be able to see them all on a shared map using your smartphone or the web. -You can use our Lost and Found service to help you recover lost stuff. A lot of you here may have heard the pitch for Global Lost and Found; we essentially offer the same thing but instead of offering it as a standalone product it is just one of the many tools on our portal. For those of you don’t know what lost item recovery tags are, they are basically low tech stickers you put on your things, and if someone finds your lost stuff they call a phone number and enter a pin, and we facilitate the process of getting it returned. -You can sign up for identity theft protection coverage. This is a lot like LifeLock, but again the difference is that it’s a tool on our portal instead of a service that has to be managed independently. Just give us your information, we freeze your credit report and you get a $1 million dollar insurance policy against your identity ever being stolen. -- Dates of Optimization Lost and Found: 3.4 Family Safety: 2.27 Dog Tracking: 3.10 Child ID: 3.9 (note adwords didn’t count our conversions on March 12, however we collected 4 conversions that day)
- So how exactly does the Life360 work? What we do, is basically take what were previously these point solutions, and make them what we call “tools” that are all a part of our portal. You can think of each tool as a product that solves one specific consumer safety or security need. We don’t tell users what tools to install, and they can pick and choose from them just like an iGoogle widget or Facebook app. When you add a new tool, it only takes a couple clicks to setup, because you’ve already dealt with signup and billing, and we reuse all your family’s data, so you never need to fill out any redundant information. If you sign up for point solutions, you need to do all these steps each time you sign up for a new service. And these tools don’t even have to be ones that we built ourselves. You can think of us like a SalesForce App exchange where third parties can build and monetize their own products as tools on our system. It doesn’t matter to us which tool is the most popular—we just need to provide the ecosystem to win. --- Life360’s products aren’t all new and groundbreaking—the secret sauce is how users interact and sign up for each service within a single platform Key Value Proposition: We don’t know what specifically you worry about, so by making each service a tool, you can pick and choose which “what ifs” you want to use Life360 to solve—the service flexes to meet your needs. And, because each tool is powered by a shared family profile, adding a new widget can literally take just a few clicks without the need for any new data entry. Only sign up for what gives you value—ignore everything else. Complete Web and Mobile Integration: All widgets can be accessed through a single web or mobile interface, and all tracking and messaging applications are consolidated into a master map and messaging system. Some examples of integration: Start tracking your family on your iPhone, add the PetTracker widget and track your dog in the same interface you use to track your kids Sign up for the Emergency Messenger widget, then get a notification when someone finds your lost laptop through the same system
- Thanks a lot and I’ll open up to Q & A.