Latch to Rebrand to Door.com with Expanded Vision of Unlocking the Potential of the Honest Day's Worker

September 05, 2023 at 09:00 AM EDT

Through the foundation of its access control business, the company will serve the Honest Day’s Worker—the builder, property manager, contractor, driver, and in-home service provider—that keeps the world running smoothly.

Latch, Inc. today announced plans to rebrand to Door.com with an expanded vision of unlocking the potential of the Honest Day’s Worker. The company plans to maintain its focus on its core access control business under the Latch brand, while launching additional brands under the Door.com umbrella to create a platform that superpowers the proud service providers that make the world go round. The new Door.com brand is expected to officially launch in 2024.

“The door is where the Honest Day’s Worker meets their customer and where Latch products and services provide best-in-class access control solutions,” said Jamie Siminoff, Chief Doorman. “I’ve spent the last decade of my career focused on the front door as the gateway to the community, and I’m proud to now unlock the door for our critical Honest Day’s Workers and their businesses. We’re here to invent and build, and we won’t stop until we deliver a platform that improves the lives of every service provider and building operator.”

Upon its launch, Door.com will enable Honest Day’s Workers across industries to take control of their businesses, from scheduling to invoicing, while keeping their hard earned money in their pocket. With a user-friendly, end-to-end platform that simplifies day-to-day operations, delivers financial freedom, increases efficiency, and improves support, Door.com empowers Honest Day’s Workers to manage and grow their businesses on their terms.

In addition to its current access control offerings with Latch, the company is announcing its first services vertical, the James app, which allows drivers to seamlessly book clients and manage their businesses, and riders can connect directly with drivers who they know and trust. With the James app, the driver—our Honest Day’s Worker—receives the necessary backend support to run their businesses while remaining in control of their schedules and maximizing the economics of their work. To begin driving with James today, click here. To download James and connect with trusted drivers in your area, click here.

“We’re here to support the Honest Day’s Workers—the service providers that truly care about the job they are doing. We all know them when we meet them,” added Siminoff. “We believe that technology should be there for them to use, not to use them. With James, drivers now have access to a platform that allows them to succeed and thrive. We’re here to serve the ones who serve us every day, and we look forward to creating a massive impact with Door.com and its respective brands.”

To learn more, visit www.Door.com or email Jamie directly at j@door.com.

About Door.com

Door.com, launching in 2024, is on a mission to unlock the potential of the Honest Day’s Worker—the proud builders and service providers that deliver critical services such as housing, property management, transportation, cleaning, and dog walking. Every Honest Day’s Worker deserves technology and products that enable them to deliver best-in-class experiences, while getting the most economic benefit from their hard work. With a platform that puts service providers in control of their businesses on their terms, from scheduling to invoicing, Door.com is here to serve the ones who serve us all. The Door.com team wakes up every day to fight, build, and invent to make the Honest Day’s Worker’s life easier; and they won’t stop until they do. Visit www.Door.com to learn more.

FORWARD-LOOKING STATEMENTS

This release contains certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "would," "will continue," "will likely result," and similar expressions. Forward-looking information includes, but is not limited to, statements regarding: the company’s brand, current and future products, financial performance, strategies, plans, expectations, and operations, and the related benefits to stockholders, customers, or residents; expected growth of the company, demand for its products and adoption by customers; and the company’s industry position. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including: (i) the company’s ability to complete the restatement of its historical financial statements, and any impact of the July 2023 reduction in force thereon; (ii) the performance of the company’s stock, especially in light of the limited liquidity and depressed trading prices expected as a result of the delisting from The Nasdaq Stock Market LLC; (iii) the company’s ability to implement business plans, including successfully integrating Honest Day’s Work into its operations following the July 3, 2023 closing of the acquisition thereof (the “HDW Acquisition”); (iv) changes and developments in the industry in which the company competes (v) the company’s ability to repay the $22 million aggregate principal amount of promissory notes issued in connection with the HDW Acquisition, for which delisting from Nasdaq as of April 15, 2024 is an event of default; (vi) the company’s ability to preserve cash given the costs and liabilities associated with the restatement and any related legal proceedings; (vii) the company’s ability to access liquidity, through the capital markets or otherwise; (viii) delays in the design, planning, buildout and permitting of the company’s headquarters; (ix) the company’s ability to attract and agree to terms with potential candidates; and (x) the company’s response to any of the aforementioned factors. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of our Annual Report on Form 10-K filed with the SEC on March 1, 2022, and other documents subsequently filed by Latch from time to time with the Securities and Exchange Commission (the “SEC”). These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Latch assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law, including the securities laws of the United States and the rules and regulations of the SEC. Latch does not give any assurance that it will achieve its expectations.