HOW APP COULD BE USED TO DISCOVER WHAT YOUR PARTNER IS REALLY DOING.
- Life360 location app's share price doubled in a year
- READ MORE: Share price surged 13,522 per cent
An app designed to help parents keep track of their teenage children is growing in popularity in Australia
Life360's Australian share price more than doubled during the last financial year, surging by 115.4 per cent to $16.37.
The local division of the Californian tech company, with 66million global active users, describes itself as 'Australia's leading family safety and location-sharing app'.
But Steven Daghlian, a market analyst with CommSec, said that the information provided by the app could be useful in many ways.
'It's a location tracking app - it's probably more wife checking on their husbands, I would say more so than the other way around,' he told Daily Mail Australia.
But primarily, Life360 is about parents keeping track of their teenage children.
'It's been growing very aggressively - people want to keep an eye on their families, especially with kids,' Mr Daghlian said.
'That's one thing that people still care about - their kids regardless of cost-of-living pressures.'
Mr Daghlian said the free service was doing a lot better than the subscription one, with the number of global users surging by 30 per cent in a year.
'More than half of those are in the United States - the fact that it's growing in that large market is important as well,' he said.
'It intends to ramp up ad revenue for users of the free app as well rather than the paid app.'
Life360 launched on the Australian Securities Exchange in May 2019 back when it was worth $5.27 a share.
In 2023-24, it was one of just two listed companies on the ASX to see its share price double, along with medical imaging company Pro Medicus.