San Francisco tech company Life360 is acquiring Chicago-based mostly Jiobit in a deal that will assist reassure dad and mom who want to know the place their kids are. On Monday, Life360 introduced that it entered a tentative, non-binding agreement with Jiobit to amass the corporate for $37 million. Life360 added that the greenback quantity could enhance to $54.5 million if sure performance metrics are met within the two years following the deal. Founder and CEO John Renaldi started Jiobit after a scary expertise, the place he lost his six-12 months-old son in a crowded Chicago park for more than 30 minutes. After the incident, Renaldi looked for a wearable system that might assist him keep observe of his son, however he wasn’t happy with any of the available products. Jiobit has created a small system that uses GPS, cellular data, bluetooth and Wi-Fi to point out its location always via a corresponding app. Parents can use this system to access accurate info on where their kids, pets or older family are.
The system can also be lengthy-lasting, so it could actually go a number of days between charges. Life360 is a popular tech company throughout the household-monitoring area, with over 26 million monthly lively customers throughout 195 nations as of December of 2020. Its cell app allows households to share their location, talk with each other or get various travel security tracker updates. But Life360 works by using a phone’s constructed-in GPS tracker and accelerometer in order to trace a person. This is nice for a mum or dad who desires to trace their teenager who has a smartphone, but won’t work if the trackee doesn’t have a phone. By acquiring Jiobit, Life360 will probably be in a position to include the company’s hardware, and provide tracking solutions for young children, pets and the elderly - giving Life360 more space to broaden. "We’ve lengthy wished to develop past the smartphone into wearable devices, and Jiobit gives the market-leading device for pets, youthful kids, and seniors," Life360 CEO and co-founder Chris Hulls stated in an announcement. "With Jiobit, Life360 could be the market chief in each hardware and software merchandise for households as soon as the deal closes. "Life360, because the leading smartphone platform for travel security tracker families, is the natural house for Jiobit," Renaldi added. "We have the identical shared lengthy-time period imaginative and prescient around the way forward for ItagPro the digitally native household, and this roll-up is a natural accelerator.
Geofencing is a technology quietly reshaping the marketing and consumer engagement landscape. It establishes digital boundaries round physical areas, linking your gadget to companies and services effortlessly. While you step across these boundaries, you receive well timed messages - discounts, event reminders or exclusive affords - all personalized to your location. While this tech benefits specific sectors, it raises major privacy considerations because it entails tracking your location, which may result in questions on knowledge privacy and consent. Geofencing is a digital expertise that establishes digital boundaries round a particular geographical space. It's like drawing an invisible fence on a map round a spot, resembling a espresso store, a park or a whole neighborhood. This technology displays devices like smartphones - which rely on GPS, travel security tracker WiFi or cellular data - as they enter or exit these defined areas. It additionally tracks radio-frequency identification (RFID) tags (compact devices that transmit data wirelessly like contactless car keys) as they transfer across these digital boundaries.
The widespread use of smartphones with built-in GPS capabilities made it simpler for ItagPro businesses and builders to implement geofencing features in cellular apps. Simultaneously, the rise of location-based mostly companies and functions, comparable to navigation apps, social media test-ins and retail store locators, led to the incorporation of geofencing know-how to enhance user experiences. A retailer selects a geographical location around their retailer to arrange the geofence, inputting geographical coordinates into software to outline this invisible boundary. Customers must grant location access on their smartphones for the geofencing to be efficient. These permissions make sure the system can accurately detect the device's location. As a customer approaches the store, the geofencing system screens their smartphone's location in relation to the geofenced geographical location. Crossing into this space triggers the system to acknowledge the customer's entry based mostly on the continuous location data supplied by their smartphone. This entry into the geofence prompts a predefined action, resembling sending a push notification to the shopper's smartphone.