Private Company Valuations: LifeLock, Inc.
Posted By Justin Byers, Lead Business Intelligence Analyst on July 22, 2009
Identity theft continues to be a problem and concern for many. We have covered companies in the past that provide services to help individuals deter identity theft. One of the larger companies in this field is LifeLock, Inc. Earlier in Q2 2009, the company closed on a new round of financing for approximately $40 MM. This week we are going to take a look at this latest round.
Headquartered in Tempe, Arizone, LifeLock, Inc. provides online identity management and theft prevention solutions. The company gives people control of their own information, giving them the ability to authorize every risky transaction such as address changes and opening of credit lines. Upon becoming a client, LifeLock will set alerts on all of its customer’s credit reports. The company recently closed on a Series D round of financing in May 2009, bringing in an additional $40 MM. Participating in this round was Kleiner Perkins Caufield & Byers. The Deal Terms of this latest round were:
|
Filing Date |
05/14/2009 |
|
Liquidation Preference for the Current Round |
Pari Passu with other Series Preferred |
|
Round of Financing |
Series D |
|
Round Direction |
Up Round |
|
Multiple of the Liquidation Preference: 1x; 2x; 3x; > 3×. |
0 – 1x |
|
Type of Preferred Stock |
Participating Preferred |
|
Capped Participating Preferred |
Yes |
|
What is the Participating Preferred cap? |
1.5 x |
|
Anti-Dilution Protection |
Weighted Average |
|
Redemption at Investor’s Option |
Yes |
|
Pay-to-Play Provisions |
No |
|
Cumulative Dividends |
No |
|
Reorganization or Recapitalization |
No |
|
Price Per Share |
$5.6558 |
|
Total Amount Raised in Recent Round |
$40 MM |
|
Post-Money Valuation |
$306.56 MM |
Implied Valuation Ticker*
Implied Valuation Ticker*
The Valuation Ticker is a venture capital valuation tracking tool that utilizes the average daily close prices of public companies in particular industries. Each of these companies received venture capital or private equity funding prior to their IPO.
Utilizing averages from 1999 to present, these daily figures are then applied to the most recent post-money valuation of a private, venture-backed company within the same industry, as calculated by VC Experts, to simulate the movement of that company’s valuation on a daily basis.
Additional data is utilized as a comparative measure, including the NASDAQ and S&P 500 indexes. With this tool, VCs, hedge fund managers, investment bankers and other investor groups can create a bucket of comparable analysis, as well as determine potential entry points when to go public.
Comments
I'd hold off;
http://www.blogtalkradio.com/OptOutDetectives/blog/2009/07/24/Todd-Davis-from-Lifelock-Not-So-Protected-To-much-info-on-public-data-bases-Opting-out-would-ha
By
Edward
on
August 10, 2009
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