Life Lock

Issues that should be included in the analysis are:

a. Introduction of company. When was the company established? When did the company go public? Why did the company decide to go public?

In 2003, Robert Maynard Jr. was at home and received a knock on his door in Phoenix, Arizona. There were at least five deputies serving a warrant for his arrest. He was being accused of failing to pay back a $16,000 casino loan from the Mirage in Las Vegas. Maynard was shocked and stressed his innocence to the deputies but eventually he was hauled off to the Maricopa County Jail. Maynard claimed he was never in Las Vegas when the loan was made at the casino. Maynard eventually was released after seven days and spent more than $20,000 trying to clear his name. During his time in jail, Maynard came up with the idea and plan for LifeLock. He wanted other people not experience what he went through and help avoid being victimized by identity thieves. LifeLock was established in 2005 and based in Tempe, Arizona. The company specializes in identity theft protection. The company claims that are able to detect fraudulent applications for credit and non-credit related services.

LifeLock were looking into ways to improve financially, customer base, and software. The company, ID Analytics, was the ideal company to provide such relief. ID Analytics develops software solutions to spot identity fraud but expands their development on enterprise-level software and programs that deal with consumer behavior. The company helps bank detect the likelihood of identity fraud tied to credit application with one of their programs called ID Score. Investments from several firms secured the purchase. Some investment firms included Bessemer Venture Partners, Goldman Sachs, River Street Management and Symantec Corporation. LifeLock was able to secure $100 million from investing firms and purchased ID Analytics. This purchase would aid LifeLock across the board and serve as a platform into any business level. Because of this purchase signaled the need to go public. The loan secured by investment firms was the main reason the decision was made to file an initial public offering. The company went public October 3rd, 2012.

b. What exchange lists the stock? Why did the company decide to list on that exchange? What is stock symbol?

LifeLock decided to list with New York Stock Exchange (NYSE). The stock symbol is LOCK. Although there are no documented reasons for listing under NYSE versus NASDAQ, there are distinct operating differences between the two that could have influenced LifeLock’s decision. The location of each entity separates the two. The location of the New York Stock Exchange is not only a physical address but it’s where transactions take place. All trades are in a physical place, the trading floor, a