LifeLock
LifeLock Logo
|
|
| Wholly-owned subsidiary | |
| Traded as | : LOCK |
| Founded | (2005) |
| Founders | Robert J. Maynard and Todd Davis |
| Headquarters | Tempe, Arizona, United States |
|
Key people
|
Todd Davis (Executive Vice Chairman) Hilary Schneider (CEO) |
| Revenue |
 $587.47 million (2015) |
 $-84.75 million (2015) |
|
|
$-51 million (2015) |
|
| Total assets |
$592.81 million (2015) |
| Total equity |
$318.07 million (2015) |
|
Number of employees
|
788 (2016) |
| Parent | Symantec |
| Subsidiaries | ID Analytics |
| Website | www |
LifeLock Inc. (NYSE:LOCK) is an American identity theft protection company based in Tempe, Arizona. The company offers the LifeLock identity theft protection system, which is intended to detect fraudulent applications for various credit and non-credit related services. As of 20 November 2016, it is a subsidiary of Symantec.
In 2015, it was ordered to pay $100 million to settle Federal Trade Commission contempt charges for failing to protect consumer information and deceptive advertising, the largest monetary award obtained by the Commission for an enforcement action.
LifeLock was co-founded in 2005 by Robert J. Maynard and Todd Davis. Amid controversy, Maynard left the company in 2007.
In December 2008, LifeLock entered into an agreement with TransUnion, one of the three main credit bureaus, to automate the process of alerting customers of potential unauthorized access via their credit reports. LifeLock acquired ID Analytics following a round of funding in March 2012. ID Analytics operates as a wholly owned subsidiary of LifeLock.
Following the announcement of the company's IPO in August 2012, Hilary Schneider joined the company as president. Schneider had previously been working with TPG Capital after leaving Yahoo in 2010.
In December 2013, LifeLock acquired Lemon Wallet for $42.6 million. Lemon is a digital wallet platform which stores payment, loyalty, and identification cards on members' smartphones. Lemon Wallet Plus was a premium service which offered lost wallet service, account monitoring, and some security measures. Wallet Plus has been folded into a new service offered by LifeLock which includes identity fraud alerts. The company temporarily removed the app from mobile stores in May 2014 when the company learned that certain parts of the app were not in compliance with payment industry standards.
As of February 2014, LifeLock had 3 million subscribers.
In July 2015, CNN reported that FTC and 35 United State Attorneys General deemed LifeLock in violation of a previous settlement with the Federal Trade Commission. In November 2016, Symantec announced its intent to acquire LifeLock for $2.3 billion.
In March 2012, ID Analytics, Inc. became a wholly owned subsidiary of LifeLock. ID Analytics was founded in 2002. It provides consumer risk management with real-time consumer behavior insights and in-depth visibility into identity risk and creditworthiness. Both government agencies and U.S. companies utilize ID Analytics for risk based decision making on revenue enhancement, fraud reduction, cost saving drivers and customer protection.
...
Wikipedia