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{{short description|American identity theft protection company}}
{{short description|American identity theft protection software}}
<!-- DO NOT post any personal information in this article. Even if it is posted on LifeLock's website, do NOT post it here.-->
<!-- DO NOT post any personal information in this article. Even if it is posted on LifeLock's website, do NOT post it here.-->
{{Infobox company
{{Infobox company
| name = LifeLock Inc.
| name=LifeLock Inc.
| type=Public
| logo = LifeLock_logo.png
| industry=Software
| type = [[Subsidiary]]
| logo=LifeLock logo.svg
⚫
| founded = {{Start date and age|2005}}
| products=[[Identity theft]] prevention software
| founders = [[Robert Maynard Jr.]]<br>[[Todd Davis]]
| hq_location_city = [[Tempe, Arizona]]
| founded={{start date and age|2005}} in [[Tempe, Arizona]]
⚫
| defunct={{end date and age|2017}}
| footnotes = <ref name="Form 10-K">{{cite web|url=https://www.sec.gov/Archives/edgar/data/1383871/000162828015000863/lock-20141231x10k.htm|publisher=Securities and Exchange Commission|year=2014|accessdate=27 July 2015|title= Form 10-K |work= LifeLock, Inc. }}</ref>
| fate=Acquired by [[Gen Digital|Symantec]]
| hq_location_country = United States
| revenue = {{increase}} $587.47 million
| revenue_year = 2015
| operating_income = {{decrease}} –$84.75 million
| income_year = 2015
| net_income = {{decrease}} –$51 million
| net_income_year = 2015
| assets = {{increase}}$592.81 million
| assets_year = 2015
| equity = {{decrease}} $318.07 million
| equity_year = 2015
| num_employees = 788
| num_employees_year = 2016
| website = [https://www.lifelock.com Lifelock.com]
| parent = [[NortonLifeLock]]
| subsid = ID Analytics
}}
}}
⚫
'''LifeLock Inc.''' was an American software company active from 2005 to 2017. The company was best known for its eponymous '''LifeLock''' [[identity theft]] prevention software, now sold by [[Gen Digital]] after the latter acquired LifeLock in 2017. LifeLock's system monitors for identity theft, the use of personal information, and credit score changes.<ref>{{cite web|url=http://articles.chicagotribune.com/2014-01-31/business/sc-cons-0130-save-20140131_1_debit-card-credit-card-target-breach|title=Protect financial information from theft|first=Debbie|last=Carlson|work=Chicago Tribune|date=January 31, 2014|accessdate=May 30, 2014}}</ref><ref>{{cite web|url=https://money.cnn.com/2013/12/19/technology/security/target-credit-card|title=4 things to do after your credit card has been hacked|last=Fox|first=Emily Jane|author-link=Emily Jane Fox|work=[[CNN Money]]|date=December 19, 2013|access-date=May 30, 2014}}</ref>


LifeLock was acquired by computer security company [[Gen Digital|Symantec]] in 2017 for $2.3 billion.<ref name=":3">{{Cite news |date=2016-11-20 |title=Symantec to acquire LifeLock for $2.3 billion |language=en |work=Reuters |url=https://www.reuters.com/article/us-lifelock-m-a-symantec-idUSKBN13F12L |access-date=2022-03-19}}</ref> After Symantec sold its enterprise division to [[Broadcom]], the company was renamed from Symantec to NortonLifeLock in November 2019, and Gen Digital Inc. in 2022.<ref>{{Cite web |title=NortonLifeLock Merges With Avast to Form New Company Called 'Gen' |url=https://www.pcmag.com/news/nortonlifelock-merges-with-avast-to-form-new-company-called-gen |access-date=2023-03-01 |website=PCMAG |language=en}}</ref> In the same year, the company began to offer versions of its [[Norton 360]] subscription service with LifeLock included.
⚫
'''LifeLock Inc.''' is an American [[identity theft]] protection company based in [[Tempe, Arizona]]. LifeLock's system monitors for identity theft, the use of personal information, and credit score changes.<ref>{{cite web|url=http://articles.chicagotribune.com/2014-01-31/business/sc-cons-0130-save-20140131_1_debit-card-credit-card-target-breach|title=Protect financial information from theft|first=Debbie|last=Carlson|work=Chicago Tribune|date=January 31, 2014|accessdate=May 30, 2014}}</ref><ref>{{cite web|url=https://money.cnn.com/2013/12/19/technology/security/target-credit-card|title=4 things to do after your credit card has been hacked|author=Fox, Emily Jane|work=CNN Money|date=December 19, 2013|accessdate=May 30, 2014}}</ref>

LifeLock was acquired by computer security company [[NortonLifeLock|Symantec]] in 2017. After selling its enterprise division to [[Broadcom]], the company was renamed Norton LifeLock in November 2019; the same year, the company also began to offer versions of its [[Norton 360]] subscription service with LifeLock included.

In 2015, the company was ordered to pay $100 million to settle [[Federal Trade Commission]] charges of failing to protect consumer information and deceptive advertising.<ref name="El Reg" />


==History==
==History==
LifeLock was co-founded in 2005 by [[Robert Maynard Jr.|Robert J. Maynard]] and [[Todd Davis]].
LifeLock was co-founded in 2005 by [[Robert Maynard Jr.|Robert J. Maynard]] and [[Todd Davis (businessman)|Todd Davis]].


Maynard began his career by founding the [[Internet service provider|Internet Service Provider (ISP)]] [[Internet America]] in the late 1990s.<ref name=":0">{{Cite web|url=https://www.phoenixnewtimes.com/news/what-happened-in-vegas-6432785|title=What Happened in Vegas...|last=Stern|first=Ray|date=2007-05-31|website=Phoenix New Times|access-date=2019-01-27}}</ref> Former LifeLock CEO Davis worked for Dell before founding Marketing Champions.<ref>{{Cite web|url=https://www.informationweek.com/high-five-meet-todd-davis-ceo-of-lifeloc/196902113|title=High Five: Meet Todd Davis, CEO Of LifeLock|website=InformationWeek|language=en|access-date=2019-11-14}}</ref>
Maynard began his career by founding the [[Internet service provider|Internet Service Provider (ISP)]] [[Internet America]] in the late 1990s.<ref name=":0">{{Cite web|url=https://www.phoenixnewtimes.com/news/what-happened-in-vegas-6432785|title=What Happened in Vegas...|last=Stern|first=Ray|date=2007-05-31|website=Phoenix New Times|access-date=2019-01-27}}</ref> Former LifeLock CEO Davis worked for [[Dell]] before founding Marketing Champions, an advertising and marketing firm.<ref>{{Cite web|url=https://www.informationweek.com/high-five-meet-todd-davis-ceo-of-lifeloc/196902113|title=High Five: Meet Todd Davis, CEO Of LifeLock|website=InformationWeek|language=en|access-date=2019-11-14}}</ref>


Maynard resigned from LifeLock in June 2007 after claims that he was a victim of identity theft came under scrutiny.<ref name="wired">{{Cite news|url=https://www.wired.com/2007/06/lifelock-founde-1/|title=LifeLock Founder Resigns Amid Controversy|last=Zetter|first=Kim|date=2007-06-11|work=Wired|access-date=2019-04-19|archive-url=https://web.archive.org/web/20090505051137/http://www.wired.com/threatlevel/2007/06/lifelock_founde_1|archive-date=2009-05-05|url-status=live|issn=1059-1028}}</ref><ref name="msnmoneyfounderresign" /> Davis publicly posted his [[Social Security number]] as part of a 2007 ad campaign to promote the company's identity theft protection services. Davis was a victim of 13 cases of identity theft between 2007 and 2008.<ref name="13times">{{Cite news|url=https://www.wired.com/2010/05/lifelock-identity-theft/|title=LifeLock CEO's Identity Stolen 13 Times|last=Zetter|first=Kim|date=2010-05-18|work=Wired|access-date=2016-12-17|archive-url=https://web.archive.org/web/20100521030228/http://www.wired.com/threatlevel/2010/05/lifelock-identity-theft|archive-date=2010-05-21|url-status=live|issn=1059-1028}}</ref><ref>{{Cite web|url=https://www.computerworld.com/article/2517761/lifelock-ceo-said-to-be-victim-of-identity-theft-13-times.html|title=LifeLock CEO said to be victim of identity theft 13 times|last=Vijayan|first=Jaikumar|date=2010-05-19|website=Computerworld|language=en|access-date=2019-04-19}}</ref> Regarding the campaign, Davis said, "We were trying to make the point that ... all it takes is one data breach. The point of that campaign was to take proactive steps to protect your identity."<ref name="Phoenix Business Journal">{{cite web|url=http://www.bizjournals.com/phoenix/news/2014/02/20/lifelock-ceo-shares-more-than-ssn-in.html?page=all|title=LifeLock CEO shares more than SSN in first 'Reporter's Notebook' event|last=Lowery|first=Ilana|date=February 20, 2014|website=Phoenix Business Journal|accessdate=May 30, 2014}}</ref>
Maynard resigned from LifeLock in June 2007 after claims that he was a victim of identity theft came under scrutiny.<ref name="wired">{{Cite magazine|url=https://www.wired.com/2007/06/lifelock-founde-1/|title=LifeLock Founder Resigns Amid Controversy|last=Zetter|first=Kim|author-link=Kim Zetter|date=2007-06-11|magazine=Wired|access-date=2019-04-19|archive-url=https://web.archive.org/web/20090505051137/http://www.wired.com/threatlevel/2007/06/lifelock_founde_1|archive-date=2009-05-05|url-status=live|issn=1059-1028}}</ref><ref name="msnmoneyfounderresign" /> Davis publicly posted his [[Social Security number]] as part of a 2007 ad campaign to promote the company's identity theft protection services. However, Davis was a victim of 13 cases of identity theft between 2007 and 2008.<ref name="13times">{{Cite magazine|url=https://www.wired.com/2010/05/lifelock-identity-theft/|title=LifeLock CEO's Identity Stolen 13 Times|last=Zetter|first=Kim|author-link=Kim Zetter|date=2010-05-18|magazine=Wired|access-date=2016-12-17|archive-url=https://web.archive.org/web/20100521030228/http://www.wired.com/threatlevel/2010/05/lifelock-identity-theft|archive-date=2010-05-21|url-status=live|issn=1059-1028}}</ref><ref>{{Cite web|url=https://www.computerworld.com/article/2517761/lifelock-ceo-said-to-be-victim-of-identity-theft-13-times.html|title=LifeLock CEO said to be victim of identity theft 13 times|last=Vijayan|first=Jaikumar|date=2010-05-19|website=Computerworld|language=en|access-date=2019-04-19}}</ref> Regarding the campaign, Davis said, "We were trying to make the point that ... all it takes is one data breach. The point of that campaign was to take proactive steps to protect your identity."<ref name="Phoenix Business Journal">{{cite web|url=http://www.bizjournals.com/phoenix/news/2014/02/20/lifelock-ceo-shares-more-than-ssn-in.html?page=all|title=LifeLock CEO shares more than SSN in first 'Reporter's Notebook' event|last=Lowery|first=Ilana|date=February 20, 2014|website=Phoenix Business Journal|accessdate=May 30, 2014}}</ref>


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.<ref name="LifeLock, TransUnion team to fight identity theft">{{cite news|title=LifeLock, TransUnion team to fight identity theft|url=http://phoenix.bizjournals.com/phoenix/stories/2008/12/15/daily43.html|accessdate=2008-12-18|author=O'Grady, Patrick|date=2008-12-17}}</ref>
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.<ref name="LifeLock, TransUnion team to fight identity theft">{{cite news|title=LifeLock, TransUnion team to fight identity theft|url=http://phoenix.bizjournals.com/phoenix/stories/2008/12/15/daily43.html|accessdate=2008-12-18|author=O'Grady, Patrick|date=2008-12-17}}</ref>


As part of a 2009 settlement with [[Experian]] related to false [[Fair and Accurate Credit Transactions Act#Fraud alerts|fraud alerts]] allegations, LifeLock set up a service that does not rely on fraud alerts.<ref name="cnn20080522">{{cite news|url=http://www.cnn.com/2008/CRIME/05/22/lifelock.flap.ap/index.html?eref=ib_technology|title=Fraud-prevention pitchman becomes ID theft victim|accessdate=2008-05-22|archive-url=https://web.archive.org/web/20080526075840/http://www.cnn.com/2008/CRIME/05/22/lifelock.flap.ap/index.html?eref=ib_technology|archive-date=2008-05-26|url-status=dead}}</ref><ref name="forbes">{{cite news|url=https://www.forbes.com/markets/commodities/2008/02/21/experian-lifelock-update-markets-equity-cx_md_0221-markets32.html|title=Experian Sues LifeLock For 'Abusing' Fraud Alert System|last=Desmond|first=Maurna|date=2008-02-21|work=Forbes|accessdate=2012-09-11|archive-url=https://web.archive.org/web/20080528055937/http://www.forbes.com/markets/commodities/2008/02/21/experian-lifelock-update-markets-equity-cx_md_0221-markets32.html|archive-date=2008-05-28|url-status=dead}}</ref><ref>{{Cite news|url=http://www.azcentral.com/business/articles/2009/10/23/20091023biz-lifelock1023.html|title=LifeLock, Experian settle case over alerts|last=Johnson|first=Andrew|date=2009-10-23|work=The Arizona Republic|access-date=2019-04-19|publisher=Gannett Company}}</ref>
As part of a 2009 settlement with [[Experian]] related to false [[Fair and Accurate Credit Transactions Act#Fraud alerts|fraud alerts]] allegations, LifeLock set up a service that does not rely on fraud alerts.<ref name="cnn20080522">{{cite news|url=http://www.cnn.com/2008/CRIME/05/22/lifelock.flap.ap/index.html?eref=ib_technology|title=Fraud-prevention pitchman becomes ID theft victim|accessdate=2008-05-22|archive-url=https://web.archive.org/web/20080526075840/http://www.cnn.com/2008/CRIME/05/22/lifelock.flap.ap/index.html?eref=ib_technology|archive-date=2008-05-26|url-status=dead}}</ref><ref name="forbes">{{cite news|url=https://www.forbes.com/markets/commodities/2008/02/21/experian-lifelock-update-markets-equity-cx_md_0221-markets32.html|title=Experian Sues LifeLock For 'Abusing' Fraud Alert System|last=Desmond|first=Maurna|author-link=Maurna Desmond|date=2008-02-21|work=Forbes|accessdate=2012-09-11|archive-url=https://web.archive.org/web/20080528055937/http://www.forbes.com/markets/commodities/2008/02/21/experian-lifelock-update-markets-equity-cx_md_0221-markets32.html|archive-date=2008-05-28|url-status=dead}}</ref><ref>{{Cite news|url=http://www.azcentral.com/business/articles/2009/10/23/20091023biz-lifelock1023.html|title=LifeLock, Experian settle case over alerts|last=Johnson|first=Andrew|date=2009-10-23|work=The Arizona Republic|access-date=2019-04-19|publisher=Gannett Company}}</ref>


LifeLock acquired ID Analytics, which operates independently as a wholly owned subsidiary, in March 2012.<ref name="TechCrunch TechID">{{cite web|url=https://techcrunch.com/2012/03/15/identity-theft-protection-company-lifelock-raises-100m-from-kleiner-symantec-acquires-id-analytics/|title=Identity Theft Protection Company LifeLock Raises $100M From Kleiner, Symantec; Acquires ID Analytics|author=Rao, Leena|date=March 15, 2012|publisher=TechCrunch|accessdate=May 30, 2014}}</ref> Following LifeLock's initial public offering (IPO) announcement in August 2012,<ref name=":1">{{Cite news|url=https://www.reuters.com/article/us-lifelock-ipo-idUSBRE87R18Y20120828|title=Security company LifeLock files for IPO of up to $175 million|date=2012-08-28|work=Reuters|access-date=2020-02-13|language=en}}</ref> Hilary Schneider joined the company as president.<ref name=":2">{{Cite web|url=https://fortune.com/2016/01/20/hilary-schneider-ceo-lifelock/|title=Former Top Yahoo Exec Hilary Schneider Promoted to CEO of LifeLock|website=Fortune|language=en|access-date=2020-02-13}}</ref>
In March 2012, LifeLock acquired ID Analytics, which operates independently as a wholly owned subsidiary<ref name="TechCrunch TechID">{{cite web|url=https://techcrunch.com/2012/03/15/identity-theft-protection-company-lifelock-raises-100m-from-kleiner-symantec-acquires-id-analytics/|title=Identity Theft Protection Company LifeLock Raises $100M From Kleiner, Symantec; Acquires ID Analytics|author=Rao, Leena|date=March 15, 2012|publisher=TechCrunch|accessdate=May 30, 2014}}</ref> Following LifeLock's initial public offering (IPO) announcement in August 2012,<ref name=":1">{{Cite news|url=https://www.reuters.com/article/us-lifelock-ipo-idUSBRE87R18Y20120828|title=Security company LifeLock files for IPO of up to $175 million|date=2012-08-28|work=Reuters|access-date=2020-02-13|language=en}}</ref> Hilary Schneider joined the company as president.<ref name=":2">{{Cite web|url=https://fortune.com/2016/01/20/hilary-schneider-ceo-lifelock/|title=Former Top Yahoo Exec Hilary Schneider Promoted to CEO of LifeLock|website=Fortune|language=en|access-date=2020-02-13}}</ref>


LifeLock acquired [[Lemon Wallet]], a digital wallet platform, for $42.6 million in December 2013.<ref>{{cite web|url=http://gigaom.com/2013/12/12/lifelock-buys-mobile-wallet-lemon-for-42-6m|title=LifeLock buys mobile wallet Lemon for $42.6M|author=Fitchard, Kevin|publisher=Gigaom|date=December 12, 2013|accessdate=May 30, 2014}}</ref><ref>{{cite web|url=http://mashable.com/2013/12/12/lifelock-acquires-lemon|title=LifeLock Acquires Lemon App For $42 Million to Develop Digital Wallet|author=Fiegerman, Seth|publisher=Mashable|date=December 12, 2013|accessdate=May 30, 2014}}</ref><ref name="TechCrunch Lemon">{{cite web|url=https://techcrunch.com/2013/12/12/lifelock-acquires-mobile-wallet-platform-lemon-for-42-6-million|title=LifeLock Acquires Mobile Wallet Platform Lemon For $42.6 Million, Launches LifeLock Wallet|last=Perez|first=Sarah|date=December 12, 2013|website=TechCrunch|accessdate=May 30, 2014}}</ref>
In December 2013, LifeLock acquired [[Lemon Wallet]], a digital wallet platform, for $42.6 million.<ref>{{cite web|url=http://gigaom.com/2013/12/12/lifelock-buys-mobile-wallet-lemon-for-42-6m|title=LifeLock buys mobile wallet Lemon for $42.6M|author=Fitchard, Kevin|publisher=Gigaom|date=December 12, 2013|accessdate=May 30, 2014}}</ref><ref>{{cite web|url=http://mashable.com/2013/12/12/lifelock-acquires-lemon|title=LifeLock Acquires Lemon App For $42 Million to Develop Digital Wallet|author=Fiegerman, Seth|publisher=Mashable|date=December 12, 2013|accessdate=May 30, 2014}}</ref><ref name="TechCrunch Lemon">{{cite web|url=https://techcrunch.com/2013/12/12/lifelock-acquires-mobile-wallet-platform-lemon-for-42-6-million|title=LifeLock Acquires Mobile Wallet Platform Lemon For $42.6 Million, Launches LifeLock Wallet|last=Perez|first=Sarah|date=December 12, 2013|website=TechCrunch|accessdate=May 30, 2014}}</ref>


The FTC obtained a $100 million monetary penalty against LifeLock in 2015, with $68 million held for class-action refunds to customers in relation to false advertising and failed service delivery allegations.<ref>{{cite web|url=https://www.ftc.gov/news-events/press-releases/2015/12/lifelock-pay-100-million-consumers-settle-ftc-charges-it-violated|title=LifeLock to Pay $100 Million to Consumers to Settle FTC Charges it Violated 2010 Order|date=December 17, 2015}}</ref><ref name="El Reg">{{cite web|url=https://www.theregister.co.uk/2015/12/17/lifelock_fined_100m|title=LifeLock didn't live up to their hype, and now they're $100m lighter|last=Nichols|first=Shaun|website=The Register|publisher=Situation Publishing|accessdate=December 17, 2016}}</ref>
In 2015, the FTC obtained a $100 million monetary penalty against LifeLock with $68 million held for class-action refunds to customers in relation to false advertising and failed service delivery allegations.<ref>{{cite web|url=https://www.ftc.gov/news-events/press-releases/2015/12/lifelock-pay-100-million-consumers-settle-ftc-charges-it-violated|title=LifeLock to Pay $100 Million to Consumers to Settle FTC Charges it Violated 2010 Order|date=December 17, 2015}}</ref><ref name="El Reg">{{cite web|url=https://www.theregister.co.uk/2015/12/17/lifelock_fined_100m|title=LifeLock didn't live up to their hype, and now they're $100m lighter|last=Nichols|first=Shaun|website=The Register|publisher=Situation Publishing|accessdate=December 17, 2016}}</ref>


In January 2016, the company announced that Hilary Schneider would replace Todd Davis as CEO.<ref name=":2" />
In January 2016, the company announced that Hilary Schneider would replace Todd Davis as CEO.<ref name=":2" />


LifeLock was acquired by [[NortonLifeLock|Symantec]] for $2.3 billion on February 9, 2017.<ref>{{cite news|last1=Molina|first1=Brett|title=Symantec to acquire LifeLock for $2.3B|url=https://www.usatoday.com/story/tech/news/2016/11/21/symantec-acquire-lifelock-23b/94208924|accessdate=2016-11-21|work=[[USA Today]]|issue=2016-11-21}}</ref><ref>{{Cite web |title=Symantec completes acquisition of Tempe's LifeLock for $2.3B |url=https://www.bizjournals.com/phoenix/news/2017/02/09/symantec-completes-acquisition-of-tempes-lifelock.html |website=www.bizjournals.com |access-date=2019-11-14}}</ref> The company subsequently began to offer its Norton subscription services with LifeLock included.<ref>{{Cite web|url=https://www.techradar.com/news/norton-adds-a-vpn-and-more-to-its-refreshed-360-products|title=Norton adds a VPN and more to its refreshed 360 products|last=Athow|first=Desire|website=TechRadar|language=en|access-date=2020-03-04}}</ref>
LifeLock was acquired by [[Gen Digital|Symantec]] for $2.3 billion on February 9, 2017.<ref>{{cite news|last1=Molina|first1=Brett|title=Symantec to acquire LifeLock for $2.3B|url=https://www.usatoday.com/story/tech/news/2016/11/21/symantec-acquire-lifelock-23b/94208924|accessdate=2016-11-21|work=[[USA Today]]|issue=2016–11–21}}</ref><ref>{{Cite web |title=Symantec completes acquisition of Tempe's LifeLock for $2.3B |url=https://www.bizjournals.com/phoenix/news/2017/02/09/symantec-completes-acquisition-of-tempes-lifelock.html |website=www.bizjournals.com |access-date=2019-11-14}}</ref> The company subsequently began to offer its Norton subscription services with LifeLock included.<ref>{{Cite web|url=https://www.techradar.com/news/norton-adds-a-vpn-and-more-to-its-refreshed-360-products|title=Norton adds a VPN and more to its refreshed 360 products|last=Athow|first=Desire|website=TechRadar|date=29 April 2019|language=en|access-date=2020-03-04}}</ref>


===Funding===
===Funding===
The company started with $2 million in seed funding, with another $5 million in its Series A funding in 2006 from Bessemer Ventures.<ref name="Gigaom Kleiner">{{cite web|url=http://gigaom.com/2007/04/23/lifelock-gets-6-million-from-kleiner-perkins|title=Lifelock gets $6 million from Kleiner Perkins|author=Malik, Om|publisher=Gigaom|date=April 23, 2007|accessdate=May 30, 2014}}</ref>
The company started with $2 million in seed funding with another $5 million in its Series A funding in 2006 from Bessemer Ventures.<ref name="Gigaom Kleiner">{{cite web|url=http://gigaom.com/2007/04/23/lifelock-gets-6-million-from-kleiner-perkins|title=Lifelock gets $6 million from Kleiner Perkins|last=Malik|first=Om|author-link=Om Malik|website=[[Gigaom]]|date=April 23, 2007|access-date=May 30, 2014}}</ref>


LifeLock raised $6 million in its series B funding from [[Kleiner Perkins Caufield & Byers]] in April 2007.<ref name="Gigaom Kleiner"/> The following January, its Series C Funding ended with $25 million, led by Goldman Sachs Group, Inc.<ref>{{cite web|url=http://www.bizjournals.com/phoenix/stories/2008/01/21/daily26.html|title=LifeLock gains $25 million in third-round funding to support growth|author=Kress, Adam|publisher=Phoenix Business Journal|date=January 23, 2008|accessdate=May 30, 2014}}</ref> In August 2009, a series D funding round raised $40 million for the company.<ref>{{cite web|url=https://venturebeat.com/2009/08/05/symantec-pumps-20m-into-identity-theft-protection-company-lifelock|title=Symantec helps pump $40M into identity theft protection company Lifelock|author= Marshall, Matt|publisher=VentureBeat|date=August 5, 2009|accessdate=May 30, 2014}}</ref> LifeLock raised $100 million in new equity funding from Bessemer Ventures Partners, Goldman, Sachs & Co., Kleiner Perkins Caufield & Byers, Symantec Corporation and River Street Management in March 2012.<ref name="IDA Purchase">{{cite news|title=LifeLock gets $100 million investment, purchases ID Analytics|url=http://www.bizjournals.com/phoenix/news/2012/03/14/lifelock-gets-100-million-investment.html|website=Bizjournals.com|date=March 14, 2012|author=O'Grady, Patrick}}</ref> The funds were used towards the acquisition of ID Analytics, an identity theft risk prediction technology.<ref name="TechCrunch TechID"/>
LifeLock raised $6 million in its series B funding from [[Kleiner Perkins Caufield & Byers]] in April 2007.<ref name="Gigaom Kleiner"/> The following January, its Series C Funding raised $25 million, led by Goldman Sachs Group, Inc.<ref>{{cite web|url=http://www.bizjournals.com/phoenix/stories/2008/01/21/daily26.html|title=LifeLock gains $25 million in third-round funding to support growth|author=Kress, Adam|publisher=Phoenix Business Journal|date=January 23, 2008|accessdate=May 30, 2014}}</ref> In August 2009, a series D funding round raised $40 million for the company.<ref>{{cite web|url=https://venturebeat.com/2009/08/05/symantec-pumps-20m-into-identity-theft-protection-company-lifelock|title=Symantec helps pump $40M into identity theft protection company Lifelock|author= Marshall, Matt|publisher=VentureBeat|date=August 5, 2009|accessdate=May 30, 2014}}</ref> In March 2013, LifeLock raised $100 million in new equity funding from Bessemer Ventures Partners, Goldman, Sachs & Co., Kleiner Perkins Caufield & Byers, Symantec Corporation, and River Street Management.<ref name="IDA Purchase">{{cite news|title=LifeLock gets $100 million investment, purchases ID Analytics|url=http://www.bizjournals.com/phoenix/news/2012/03/14/lifelock-gets-100-million-investment.html|website=Bizjournals.com|date=March 14, 2012|author=O'Grady, Patrick}}</ref> The funds were used towards the acquisition of ID Analytics, an identity theft risk prediction technology.<ref name="TechCrunch TechID"/>


LifeLock announced plans to take its identity theft protection business public<ref name=":1" /> and filed for an IPO worth up to $175 million on August 28, 2012.<ref>{{cite web|title=Lifelock expects to price IPO at $9.50-$11.50|url=http://www.marketwatch.com/story/lifelock-expects-to-price-ipo-at-950-1150-2012-09-19|publisher=MarketWatch|accessdate=September 25, 2012}}</ref> The company was listed on the [[New York Stock Exchange]] starting October 3, 2012, trading under the symbol LOCK.<ref>{{Cite web|url=https://www.bizjournals.com/phoenix/news/2012/10/03/lifelock-ipo-brings-in-about-141.html|title=LifeLock IPO brings in about $141 million|website=www.bizjournals.com|access-date=2020-02-13}}</ref> In 2017, LifeLock filed a form with the Securities and Exchange Commission to voluntarily deregister its common stock.<ref>{{Cite web|url=https://marketexclusive.com/lifelock-inc-nyselock-files-an-8-k-termination-of-a-material-definitive-agreement/2017/02/|title=LifeLock, Inc. (NYSE:LOCK) Files An 8-K Termination of a Material Definitive Agreement - Market Exclusive|last=Staff 8-k|first=M. E.|language=en-US|access-date=2020-02-13}}</ref>
LifeLock announced plans to take its identity theft protection business public<ref name=":1" /> and filed for an IPO worth up to $175 million on August 28, 2012.<ref>{{cite web|title=Lifelock expects to price IPO at $9.50-$11.50|url=http://www.marketwatch.com/story/lifelock-expects-to-price-ipo-at-950-1150-2012-09-19|publisher=MarketWatch|accessdate=September 25, 2012}}</ref> The company was listed on the [[New York Stock Exchange]] starting October 3, 2012, trading under the symbol LOCK.<ref>{{Cite web|url=https://www.bizjournals.com/phoenix/news/2012/10/03/lifelock-ipo-brings-in-about-141.html|title=LifeLock IPO brings in about $141 million|website=www.bizjournals.com|access-date=2020-02-13}}</ref> LifeLock filed a form with the Securities and Exchange Commission to voluntarily deregister its common stock in 2017 after its acquisition by Symantec for $2.3 billion.<ref name=":3" /> <ref>{{Cite web|url=https://marketexclusive.com/lifelock-inc-nyselock-files-an-8-k-termination-of-a-material-definitive-agreement/2017/02/|title=LifeLock, Inc. (NYSE:LOCK) Files An 8-K Termination of a Material Definitive Agreement - Market Exclusive|last=Staff 8-k|first=M. E.|language=en-US|access-date=2020-02-13}}</ref>


Following Symantec's name change in November 2019, the company's stock symbol became NLOK.<ref>{{Cite web|url=https://www.bizjournals.com/sanjose/news/2019/11/06/symantecs-consumer-business-has-a-new-name-as.html|title=Goodbye, Symantec: Consumer business gets rebrand|website=www.bizjournals.com|access-date=2020-02-13}}</ref>
Following Symantec's name change in November 2019, Symantec's stock symbol became NLOK.<ref>{{Cite web|url=https://www.bizjournals.com/sanjose/news/2019/11/06/symantecs-consumer-business-has-a-new-name-as.html|title=Goodbye, Symantec: Consumer business gets rebrand|website=www.bizjournals.com|access-date=2020-02-13}}</ref>


==Affiliations==
==Controversies==
[[Robert Maynard, Jr.|Robert J. Maynard, Jr.]], a co-founder of the company, resigned in June 2007 following a controversial story published in ''[[Phoenix New Times]]'' about his past. The story involved [[:wiktionary:bankruptcy|bankruptcy]], [[Federal Trade Commission|FTC]] investigation, and [[identity theft]].<ref name="bob">{{cite web|url=http://www.phoenixnewtimes.com/2007-05-31/news/what-happened-in-vegas/full|title=What Happened in Vegas|publisher=[[Phoenix New Times]]|last=Ray Stern|date=30 May 2007|archive-url=https://web.archive.org/web/20090404113544/http://www.phoenixnewtimes.com/2007-05-31/news/what-happened-in-vegas/full|access-date=14 November 2021|archive-date=2009-04-04|quote=In April 2005, local entrepreneur Robert J. Maynard Jr. was beyond broke.}}</ref><ref name="wired" /><ref name="msnmoneyfounderresign">{{cite news|url=http://phoenix.bizjournals.com/phoenix/stories/2007/06/11/daily15.html|title=LifeLock founder resigns amid questions about his past|last=Casacchia|first=Chris|date=2007-06-12|accessdate=2007-06-19|publisher=bizjournals.com}}</ref>
LifeLock markets its services through industry partnerships as well as through traditional advertising.<ref>{{cite web|url=http://www.huffingtonpost.com/2012/03/05/rush-limbaugh-sponsor-lifelock_n_1321501.html|title=Rush Limbaugh Sponsor LifeLock: Why We're Sticking With Rush|date=March 5, 2012|accessdate=2012-03-23}}</ref>


⚫
LifeLock was fined $12 million by the Federal Trade Commission in March 2010 for deceptive advertising.<ref>{{Cite magazine|url=https://www.wired.com/2012/10/lifelock-ipo/|title=LifeLock's IPO Is Unimpressive, But Not as Bad as Its Checkered Past|last=Singel|first=Ryan|author-link=Ryan Singel|date=2012-10-03|magazine=Wired|access-date=2019-04-19|issn=1059-1028}}</ref> The FTC called the company's prior marketing claims misleading to consumers by claiming to be a 100% guarantee against all forms of identity theft.<ref name="ftc.gov">{{cite web|url=https://www.ftc.gov/enforcement/cases-proceedings/072-3069-x100023/lifelock-inc-corporation|title=LifeLock, Inc., a corporation|date=9 March 2010|website=Federal Trade Commission|accessdate=14 March 2019}}</ref>
From June 2009 to 2013, LifeLock partnered with the [[Women's National Basketball Association]]'s [[Phoenix Mercury]].<ref>{{Cite web|url=https://www.sun-sentinel.com/news/fl-xpm-2009-06-01-0906020075-story.html|title=WNBA?S PHOENIX MERCURY TO WEAR LIFELOCK LOGOS ON UNIFORMS; AND TWITTER AND ME|last=AM|first=Posted by Sarah Talalay on June 1, 2009 10:48|website=Sun-Sentinel.com|language=en-US|access-date=2020-02-13}}</ref>

==Controversies==
[[Robert Maynard, Jr.|Robert J. Maynard, Jr.]], a co-founder of the company, resigned in June 2007.<ref name="wired" /><ref name="msnmoneyfounderresign">{{cite news|url=http://phoenix.bizjournals.com/phoenix/stories/2007/06/11/daily15.html|title=LifeLock founder resigns amid questions about his past|last=Casacchia|first=Chris|date=2007-06-12|accessdate=2007-06-19|publisher=bizjournals.com}}</ref>


⚫
In 2015, the FTC found LifeLock to be in contempt of the 2010 agreement, charging that they "failed to establish and maintain a comprehensive [[information security]] program", and "falsely advertised that it protected consumers' sensitive data". The FTC obtained a $100 million monetary penalty against LifeLock to settle the contempt charge. Of that fine, $68 million was held for class-action refunds to LifeLock customers.
⚫
In March 2010, LifeLock was fined $12 million by the Federal Trade Commission for deceptive advertising.<ref>{{Cite news|url=https://www.wired.com/2012/10/lifelock-ipo/|title=LifeLock's IPO Is Unimpressive, But Not as Bad as Its Checkered Past|last=Singel|first=Ryan|date=2012-10-03|work=Wired|access-date=2019-04-19|issn=1059-1028}}</ref> The FTC called the company's prior marketing claims misleading to consumers by claiming to be a 100% guarantee against all forms of identity theft.<ref name="ftc.gov">{{cite web|url=https://www.ftc.gov/enforcement/cases-proceedings/072-3069-x100023/lifelock-inc-corporation|title=LifeLock, Inc., a corporation|date=9 March 2010|website=Federal Trade Commission|accessdate=14 March 2019}}</ref>


===2022 data breach ===
⚫
In 2015, the FTC found LifeLock to be in contempt of the 2010 agreement, charging that they "failed to establish and maintain a comprehensive information security program", and "falsely advertised that it protected consumers' sensitive data". The FTC obtained a $100 million monetary penalty against LifeLock to settle the contempt charge. Of that fine, $68 million is to be held for class-action refunds to LifeLock customers.
In December 2022, LifeLock servers suffered an attack using credential stuffing, and over 6,000 user accounts had their details disclosed, including names, addresses and phone number. The method of attack was to use credentials from previous unrelated breaches. This resulted in a large number of failed login attempts on 16 December 2022. Notification of the breach was sent in January 2023.<ref>{{cite news |title=Norton LifeLock says thousands of customer accounts breached |url=https://uk.news.yahoo.com/norton-lifelock-says-thousands-customer-192152410.html |access-date=2023-01-16 |work=uk.news.yahoo.com |date=2023-01-15}}</ref>


==See also==
==See also==
*[[FICO]]
*[[FICO]]
*[[Todd Davis]]
*[[Todd Davis (businessman)|Todd Davis]]
*[[Robert Maynard Jr.]]
*[[Robert Maynard Jr.]]


Line 84: Line 64:


==External links==
==External links==
*{{official|https://www.lifelock.ml}}
*{{official|https://lifelock.norton.com/}}


{{Gen Digital}}
{{authority control}}
{{authority control}}


{{DEFAULTSORT:Lifelock}}
{{DEFAULTSORT:Lifelock}}
[[Category:Companies based in Tempe, Arizona]]
[[Category:Identity theft]]
[[Category:Identity theft]]
[[Category:American companies established in 2005]]
[[Category:Software companies established in 2005]]
[[Category:2012 initial public offerings]]
[[Category:2012 initial public offerings]]
[[Category:Companies formerly listed on the New York Stock Exchange]]
[[Category:Companies formerly listed on the New York Stock Exchange]]
[[Category:NortonLifeLock acquisitions]]
[[Category:Gen Digital acquisitions]]
[[Category:NortonLifeLock]]
[[Category:Norton (software)]]
[[Category:2017 mergers and acquisitions]]
[[Category:2017 mergers and acquisitions]]
[[Category:Security software]]
[[Category:Defunct software companies of the United States]]

Latest revision as of 04:12, 6 March 2024

LifeLock Inc.
Company typePublic
IndustrySoftware
Founded2005; 19 years ago (2005) in Tempe, Arizona
Defunct2017; 7 years ago (2017)
FateAcquired by Symantec
ProductsIdentity theft prevention software

LifeLock Inc. was an American software company active from 2005 to 2017. The company was best known for its eponymous LifeLock identity theft prevention software, now sold by Gen Digital after the latter acquired LifeLock in 2017. LifeLock's system monitors for identity theft, the use of personal information, and credit score changes.[1][2]

LifeLock was acquired by computer security company Symantec in 2017 for $2.3 billion.[3] After Symantec sold its enterprise division to Broadcom, the company was renamed from Symantec to NortonLifeLock in November 2019, and Gen Digital Inc. in 2022.[4] In the same year, the company began to offer versions of its Norton 360 subscription service with LifeLock included.

History[edit]

LifeLock was co-founded in 2005 by Robert J. Maynard and Todd Davis.

Maynard began his career by founding the Internet Service Provider (ISP) Internet America in the late 1990s.[5] Former LifeLock CEO Davis worked for Dell before founding Marketing Champions, an advertising and marketing firm.[6]

Maynard resigned from LifeLock in June 2007 after claims that he was a victim of identity theft came under scrutiny.[7][8] Davis publicly posted his Social Security number as part of a 2007 ad campaign to promote the company's identity theft protection services. However, Davis was a victim of 13 cases of identity theft between 2007 and 2008.[9][10] Regarding the campaign, Davis said, "We were trying to make the point that ... all it takes is one data breach. The point of that campaign was to take proactive steps to protect your identity."[11]

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.[12]

As part of a 2009 settlement with Experian related to false fraud alerts allegations, LifeLock set up a service that does not rely on fraud alerts.[13][14][15]

In March 2012, LifeLock acquired ID Analytics, which operates independently as a wholly owned subsidiary[16] Following LifeLock's initial public offering (IPO) announcement in August 2012,[17] Hilary Schneider joined the company as president.[18]

In December 2013, LifeLock acquired Lemon Wallet, a digital wallet platform, for $42.6 million.[19][20][21]

In 2015, the FTC obtained a $100 million monetary penalty against LifeLock with $68 million held for class-action refunds to customers in relation to false advertising and failed service delivery allegations.[22][23]

In January 2016, the company announced that Hilary Schneider would replace Todd Davis as CEO.[18]

LifeLock was acquired by Symantec for $2.3 billion on February 9, 2017.[24][25] The company subsequently began to offer its Norton subscription services with LifeLock included.[26]

Funding[edit]

The company started with $2 million in seed funding with another $5 million in its Series A funding in 2006 from Bessemer Ventures.[27]

LifeLock raised $6 million in its series B funding from Kleiner Perkins Caufield & Byers in April 2007.[27] The following January, its Series C Funding raised $25 million, led by Goldman Sachs Group, Inc.[28] In August 2009, a series D funding round raised $40 million for the company.[29] In March 2013, LifeLock raised $100 million in new equity funding from Bessemer Ventures Partners, Goldman, Sachs & Co., Kleiner Perkins Caufield & Byers, Symantec Corporation, and River Street Management.[30] The funds were used towards the acquisition of ID Analytics, an identity theft risk prediction technology.[16]

LifeLock announced plans to take its identity theft protection business public[17] and filed for an IPO worth up to $175 million on August 28, 2012.[31] The company was listed on the New York Stock Exchange starting October 3, 2012, trading under the symbol LOCK.[32] LifeLock filed a form with the Securities and Exchange Commission to voluntarily deregister its common stock in 2017 after its acquisition by Symantec for $2.3 billion.[3] [33]

Following Symantec's name change in November 2019, Symantec's stock symbol became NLOK.[34]

Controversies[edit]

Robert J. Maynard, Jr., a co-founder of the company, resigned in June 2007 following a controversial story published in Phoenix New Times about his past. The story involved bankruptcy, FTC investigation, and identity theft.[35][7][8]

LifeLock was fined $12 million by the Federal Trade Commission in March 2010 for deceptive advertising.[36] The FTC called the company's prior marketing claims misleading to consumers by claiming to be a 100% guarantee against all forms of identity theft.[37]

In 2015, the FTC found LifeLock to be in contempt of the 2010 agreement, charging that they "failed to establish and maintain a comprehensive information security program", and "falsely advertised that it protected consumers' sensitive data". The FTC obtained a $100 million monetary penalty against LifeLock to settle the contempt charge. Of that fine, $68 million was held for class-action refunds to LifeLock customers.

2022 data breach[edit]

In December 2022, LifeLock servers suffered an attack using credential stuffing, and over 6,000 user accounts had their details disclosed, including names, addresses and phone number. The method of attack was to use credentials from previous unrelated breaches. This resulted in a large number of failed login attempts on 16 December 2022. Notification of the breach was sent in January 2023.[38]

See also[edit]

References[edit]

  1. ^ Carlson, Debbie (January 31, 2014). "Protect financial information from theft". Chicago Tribune. Retrieved May 30, 2014.
  2. ^ Fox, Emily Jane (December 19, 2013). "4 things to do after your credit card has been hacked". CNN Money. Retrieved May 30, 2014.
  3. ^ a b "Symantec to acquire LifeLock for $2.3 billion". Reuters. 2016-11-20. Retrieved 2022-03-19.
  4. ^ "NortonLifeLock Merges With Avast to Form New Company Called 'Gen'". PCMAG. Retrieved 2023-03-01.
  5. ^ Stern, Ray (2007-05-31). "What Happened in Vegas..." Phoenix New Times. Retrieved 2019-01-27.
  6. ^ "High Five: Meet Todd Davis, CEO Of LifeLock". InformationWeek. Retrieved 2019-11-14.
  7. ^ a b Zetter, Kim (2007-06-11). "LifeLock Founder Resigns Amid Controversy". Wired. ISSN 1059-1028. Archived from the original on 2009-05-05. Retrieved 2019-04-19.
  8. ^ a b Casacchia, Chris (2007-06-12). "LifeLock founder resigns amid questions about his past". bizjournals.com. Retrieved 2007-06-19.
  9. ^ Zetter, Kim (2010-05-18). "LifeLock CEO's Identity Stolen 13 Times". Wired. ISSN 1059-1028. Archived from the original on 2010-05-21. Retrieved 2016-12-17.
  10. ^ Vijayan, Jaikumar (2010-05-19). "LifeLock CEO said to be victim of identity theft 13 times". Computerworld. Retrieved 2019-04-19.
  11. ^ Lowery, Ilana (February 20, 2014). "LifeLock CEO shares more than SSN in first 'Reporter's Notebook' event". Phoenix Business Journal. Retrieved May 30, 2014.
  12. ^ O'Grady, Patrick (2008-12-17). "LifeLock, TransUnion team to fight identity theft". Retrieved 2008-12-18.
  13. ^ "Fraud-prevention pitchman becomes ID theft victim". Archived from the original on 2008-05-26. Retrieved 2008-05-22.
  14. ^ Desmond, Maurna (2008-02-21). "Experian Sues LifeLock For 'Abusing' Fraud Alert System". Forbes. Archived from the original on 2008-05-28. Retrieved 2012-09-11.
  15. ^ Johnson, Andrew (2009-10-23). "LifeLock, Experian settle case over alerts". The Arizona Republic. Gannett Company. Retrieved 2019-04-19.
  16. ^ a b Rao, Leena (March 15, 2012). "Identity Theft Protection Company LifeLock Raises $100M From Kleiner, Symantec; Acquires ID Analytics". TechCrunch. Retrieved May 30, 2014.
  17. ^ a b "Security company LifeLock files for IPO of up to $175 million". Reuters. 2012-08-28. Retrieved 2020-02-13.
  18. ^ a b "Former Top Yahoo Exec Hilary Schneider Promoted to CEO of LifeLock". Fortune. Retrieved 2020-02-13.
  19. ^ Fitchard, Kevin (December 12, 2013). "LifeLock buys mobile wallet Lemon for $42.6M". Gigaom. Retrieved May 30, 2014.
  20. ^ Fiegerman, Seth (December 12, 2013). "LifeLock Acquires Lemon App For $42 Million to Develop Digital Wallet". Mashable. Retrieved May 30, 2014.
  21. ^ Perez, Sarah (December 12, 2013). "LifeLock Acquires Mobile Wallet Platform Lemon For $42.6 Million, Launches LifeLock Wallet". TechCrunch. Retrieved May 30, 2014.
  22. ^ "LifeLock to Pay $100 Million to Consumers to Settle FTC Charges it Violated 2010 Order". December 17, 2015.
  23. ^ Nichols, Shaun. "LifeLock didn't live up to their hype, and now they're $100m lighter". The Register. Situation Publishing. Retrieved December 17, 2016.
  24. ^ Molina, Brett. "Symantec to acquire LifeLock for $2.3B". USA Today. No. 2016–11–21. Retrieved 2016-11-21.
  25. ^ "Symantec completes acquisition of Tempe's LifeLock for $2.3B". www.bizjournals.com. Retrieved 2019-11-14.
  26. ^ Athow, Desire (29 April 2019). "Norton adds a VPN and more to its refreshed 360 products". TechRadar. Retrieved 2020-03-04.
  27. ^ a b Malik, Om (April 23, 2007). "Lifelock gets $6 million from Kleiner Perkins". Gigaom. Retrieved May 30, 2014.
  28. ^ Kress, Adam (January 23, 2008). "LifeLock gains $25 million in third-round funding to support growth". Phoenix Business Journal. Retrieved May 30, 2014.
  29. ^ Marshall, Matt (August 5, 2009). "Symantec helps pump $40M into identity theft protection company Lifelock". VentureBeat. Retrieved May 30, 2014.
  30. ^ O'Grady, Patrick (March 14, 2012). "LifeLock gets $100 million investment, purchases ID Analytics". Bizjournals.com.
  31. ^ "Lifelock expects to price IPO at $9.50-$11.50". MarketWatch. Retrieved September 25, 2012.
  32. ^ "LifeLock IPO brings in about $141 million". www.bizjournals.com. Retrieved 2020-02-13.
  33. ^ Staff 8-k, M. E. "LifeLock, Inc. (NYSE:LOCK) Files An 8-K Termination of a Material Definitive Agreement - Market Exclusive". Retrieved 2020-02-13.{{cite web}}: CS1 maint: numeric names: authors list (link)
  34. ^ "Goodbye, Symantec: Consumer business gets rebrand". www.bizjournals.com. Retrieved 2020-02-13.
  35. ^ Ray Stern (30 May 2007). "What Happened in Vegas". Phoenix New Times. Archived from the original on 2009-04-04. Retrieved 14 November 2021. In April 2005, local entrepreneur Robert J. Maynard Jr. was beyond broke.
  36. ^ Singel, Ryan (2012-10-03). "LifeLock's IPO Is Unimpressive, But Not as Bad as Its Checkered Past". Wired. ISSN 1059-1028. Retrieved 2019-04-19.
  37. ^ "LifeLock, Inc., a corporation". Federal Trade Commission. 9 March 2010. Retrieved 14 March 2019.
  38. ^ "Norton LifeLock says thousands of customer accounts breached". uk.news.yahoo.com. 2023-01-15. Retrieved 2023-01-16.

External links[edit]

Retrieved from "https://en.wikipedia.org/w/index.php?title=LifeLock&oldid=1212096102"