By putting those nine digits on public display, Mr. Davis was trying to show the world how confident he was in LifeLock’s service. And it worked. Today, he has just over one million customers. In January, Goldman Sachs led a $25 million round of financing for the company. Last week, Google’s chief financial officer joined its board.
But Mr. Davis’s stunt also amounted to a dare, and one man in Texas has already succeeded in getting a payday loan in his name.
Regulators and lawyers have the company in their sights, too. The state of Oklahoma accused LifeLock of selling insurance without proper certification. New York City has announced its intention to sue the company. Class-action lawyers have filed federal and state lawsuits, charging deceptive business practices and fraudulent advertising, among other things.
Sounds like a great idea if you're too lazy to do e-billing, shred mail with account information, or check your credit report every few months.
