I spent the day down at Lifelock yesterday. I have never seen anything like this in my 20 years of personal investing. It was fun catching up with the biz dev and sales leaders over lunch and hearing the product roadmap. I have been brainstorming with them on financial partnerships.
It has been about 18 months since I became an angel to the start-up. They had 8 employees and a few thousand customers. Today there are 170 employees and and they have moved three times to bigger space in the last 12 months, settling now in north Tempe in a sweet part of the city. A young Austin, Texas in the making in Tempe (in terms of tech). They have taken in over $15 million in venture money as well.
I can’t reveal the customer numbers but it rhymes with many hundreds of thousands.
Americans pay for peace of mind and it is fun to be a part of this one. You really should sign-up. Use Wallstrip as a discount code.
Disclosure – Long Lifelock
I’ve been seeing the TV ads a lot lately, so I figured they were booming. Nice to hear they’re making some coin, and not just blowing your money ;)
spending a ton of money but margins are oviopusly insane gb. he has been a frequent target of course.
not sure gb.
Being seeing their advertisements so they are spending a lot of money. Also saw where the CEO became an ID Theft victim in the summer. Was he on their service?
I did not ask about the margins and him being a target. I just wanted to know if he was on their service. If he had fraud alerts on his credit file why did the collectors call him and not the people that gave the fraudlent loan out in the first place, before they gave it out. I saw in the Dallas Morning News where he said frad alerts are not fool proof.
Honest answer thank you. check this out
http://www.dallasnews.com/sharedcontent/dws/bus/stories/072307dnbuslifelock.35a55c0.html#
what got my attention was this: Mr. Davis said LifeLock’s protection kicked in just as it should have.
well that is not exactly true because of this early comment in the article:
Mr. Davis said that a couple of months ago he was contacted by a payday loan company trying to collect on a delinquent loan.
“They got a hold of my wife’s cellphone and called me,” he said Monday.
So in really the creditor did not respond to the fraud alert and the LifeLock did not kick in as stated.
In addition, LifeLock only deals with fraud alerts and financial ID Theft which accounts for 51% of the ID Theft cases, it does not gauarntee your good name when it comes ti medical or criminal ID Theft
It gets me that with a $15 million ad budget, you cane tell people what you want them to know. The TV commercial came out after his ID Theft Victim case, so probably a way to change the focus to the public.
I feel these people have issues, but they certainly have money behind them trying to make more money.
OK, I have said effort, Thanks for listening.