Friday, Jul 24, 2026 The claims desk. Receipts included. POWERED BY LENZ ↗
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The Claim

Loopt had only 500 users near the end of its operation.

Verified by Lenz ·

The Short Version

The evidence does not support the statement that Loopt had only 500 users near the end. Reliable contemporaneous reporting around the sale put Loopt at about 3 million registered users, while the “500” figure came from an unverified report about daily active users and was explicitly disputed by the company. The claim omits that crucial distinction and therefore states something materially wrong.

Caveats

  • The reported 500 figure referred to daily active users, not total users.
  • That 500 DAU number came from anonymous sourcing and was contested by Loopt’s CEO.
  • Registered users and active users are different metrics; treating them as interchangeable is misleading.

The Receipts

  1. Loopt's Sam Altman on Why He Sold to Green Dot for $43.4M

    AllThingsD

  2. Loopt was a lemon, dropping to just 500 daily active users prior to sale-update

    Reuters

  3. Loopt was a lemon, dropping to just 500 daily active users prior to sale

    VentureBeat

  4. Green Dot Buys Location App Loopt for $43.4 Million

    The Wall Street Journal

  5. Loopt - Startup Obituary

    Startup Obituary

  6. Green Dot Buys Location App Loopt for $43.4 Million

    The New York Times

  7. Loopt - Company Profile & Funding

    Crunchbase

  8. Loopt acquired by payment card provider for $43.3m in cash

    Hacker News

  9. Loopt

    Wikipedia

  10. Sam Altman's only successful exit was a scam. He sold Loopt, a ...

    Instagram

+ 2 more sources — see the full list on Lenz

Filed Under

Loopt

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