Life360 is getting out of the business of selling precise user location data

Life360 has a new data collection deal with Placer.ai, which the company says is the start of its exit from the “traditional” data broker business, which will only include “aggregated analytics” that it says will help retail businesses understand customers better. From Life360’sWith this agreement, Placer.ai will provide critical data insights and analytics services to Life360, which will enhance the product experience for our users.

This agreement includes a minimum revenue guarantee based on the size of Life360’s active user base, which we expect will preserve revenue in-line with CY21 results for the duration of the three-year agreement. Life360 will also be receiving a 10 year warrant exercisable to purchase up to US$25m in Placer.ai, which recently completed a US$100m capital raise. The agreement also expressly excludes

We asked Life360 CEO Chris Hulls in December what his company would do if its partners, like X-mode or Cuebiq, did sell identifiable data to the government — and Hulls responded saying partners would be sued for breaching their contract.

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