Tile Inc, a maker of tracking tags that was a vocal, outmoded whiner over Apple’s advanced, ultra-accurate AirTag item trackers and vast worldwide FindMy network, has been acquired by Life360, a location-sharing app maker, for $250 million.
AirTag is a supereasy way to keep track of your stuff. Attach one to your keys, slip another in your backpack. And just like that, they’re on your radar in the Find My app, where you can also track down your Apple devices and keep up with friends and family. Starting at just $29.
The deal was valued at $205 million after Tile had raised $141 million in venture capital since its founding in 2012, a return of just 1.45 times invested capital.
The rival Apple product – $30 AirTags, tiny devices meant to be attached to keys or other valuables – is more seamless for iPhone owners to use than third-party devices like Tile… Tile still makes tags that work with both Apple and non-Apple devices, although they have less functionality than AirTags when used with iPhones…
Under the deal Monday, the companies said that Tile will continue under its own brand identity under the leadership of Tile CEO CJ Prober, who will also join the Life360 board of directors.
MacDailyNews Take: $205 million is a pittance. Petty cash. Tile is AirTag + Find My roadkill.
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