Profitability 700% Growth in Profit; 200% Increase in Revenue; 1000% Paying Subscriber Growth Rate in Flagship Services; 2,000 new developers; 400MM Locates Processed; Inc. 500 Fastest Growing Private Company
San Francisco, Calif. – January 31, 2011 – Location Labs, the leading provider of mobile location-as-a-service applications and platforms, today announced that 2010 was a record year. The clear market-leader, Location Labs achieved 200% growth in revenue in 2010 with profits growing 700%, and finished the year cash flow positive. The company doubled its employee headcount, moved offices into a much larger space, and announced expansion into Europe.
"Growth, financial performance, and innovation in mobile and location technologies are the hallmarks of our company," said Tasso Roumeliotis, CEO Location Labs. "We are still in the beginning stages of location services as an industry. The impact of location-based technologies on personal security, the retail sector and enterprise applications will be disruptive – and the best is still yet to come in 2011."
Mobile Safety & Security
Location Labs’ award-winning personal location security service also saw record paying subscriber growth in 2010. The company announced a paying subscriber growth rate of more than 1000%. User engagement was also extremely high: the company performs nearly 1MM locates per day, for its mobile safety and security customers, sending out thousands of alerts to parents assuring them that a child made it to school on time or arrived home safely before curfew.
The company is poised for continued aggressive growth in 2011, expanding its product leadership with the launch of the industry’s first carrier-grade “no texting while driving” solution, which leverages Location Labs’ patent-pending low power motion-detection technology for smart phone platforms. The new service garnered national attention with more than 400 media outlets reporting on the news.
Technology Milestones
Over the past year, Location Labs clearly established itself as the leader in location-based services. The company’s geofencing platform boasts the largest mobile developer base in the US outside of Android and Apple; and applications developed on the platform have processed over 400MM location transactions. Additional technology highlights include:
· Provided the ability for developers to remotely locate over 300MM mobile phones
· Added over 2,000 mobile developers to its Location Platform (3X growth from prior year)
Partnerships
Beyond the significant growth of its developer platform, Location Labs also announced additional partnerships with Tier-One US carriers. These relationships further validate the company’s market-leading innovation and commitment to deliver the most trusted technology in location and mobile security. Partnership highlights include:
· A Tier 1 operator that will preload and distribute Location Labs’ mobile location Platform, Sparkle on over 40MM mobile handsets.
· All four major US carriers announced support for Location Labs location Platform enabling the ability for developers to remotely locate over 300MM mobile phones.
Industry-First Location-Based Applications
The company continued its history of innovation in 2010, most notably, with the launch of the industry’s first “Geofencing” product on iPhone and Android. Geofencing is a technology that helps to define virtual boundaries, enabling developers, retailers, and brands to build intelligent mobile applications that generate automatic offers and alerts to be sent based on the user’s location. The company launched several ’industry-first’ applications in 2010 including the:
· First mobile sports wager enabled via American Wagering
· First location-based fraud alerting service via Finsphere’s PinPoint Fraud product
· First Outdoor Advertising Location App promoting Intel’s Smart TV Campaign with CBS Outdoor
· Mayor Maker auto check-in app, built using Geofencing on Foursquare
Company Awards
Focused on securing its foot-hold in location-based services, in 2010 industry influencers stopped to recognize Location Labs’ significant growth and momentum by awarding the company with the following accolades:
· The Inc. 500, ”Fastest Growing Private Companies in the US”
· San Francisco Business Times “Fastest Growing Companies”
· AlwaysOn Global 250
About Location Labs
Location Labs is the leader in mobile location-as-a-service with consumer products that enhance the personal safety of millions of users and a location platform that enables 2,000+ developers to build their own rich location based applications.
The company operates the world’s most successful mobile location-based personal safety service, powering nearly a dozen products for Tier 1 carriers, including AT&T, Sprint, and T-Mobile. Recent accolades include: 2010 Inc. 500 list of America’s Fastest Growing Private Companies and San Francisco Business Journal’s "Fastest Growing Privately Held Companies".
The company has raised $26MM in venture financing from Draper Fisher Jurvetson, BlueRun Ventures (formerly Nokia Venture Partners), QUALCOMM Ventures, Intel Capital, and Mitsui Ventures. More information: http://www.LocationLabs.com