Latch Inc., a prominent startup specializing in smart locks, is set to undergo a significant transformation. In an effort to expand its offerings and create a platform that supports service providers, the company will rebrand itself as Door.com. Led by Jamie Siminoff, the founder of Ring, Door.com aims to empower gig workers and enhance their earning potential.
Key Takeaway
Door.com, formerly known as Latch, is undergoing a transformation to become a platform that supports service providers across industries. Led by Jamie Siminoff, the company aims to empower gig workers, enabling them to take control of their businesses, earn more, and streamline their operations. With the introduction of James, a ride-hailing app, Door.com exhibits its commitment to improving the lives of gig workers in the ever-evolving gig economy.
The Journey of Latch
For close to a decade, Latch has made its mark in the smart lock industry, providing innovative solutions. However, with established names like Yale and Kwikset entering the market, Latch recognized the need to evolve. In recent years, Latch pivoted its focus towards becoming a platform, collaborating with landlords and real estate firms.
Door.com: Expanding Beyond Proptech
With the rebranding as Door.com, Latch signals a broader expansion beyond proptech, indicating its intention to empower service providers in various industries. To provide a sneak peek into the upcoming platform, Latch introduced James, a ride-hailing app. James boasts a unique value proposition that enables drivers to set their own prices, keep 100% of fares (with a 5% fee for payment processing), and effortlessly manage bookings through the app. This initiative aims to address the challenges faced by gig workers in the gig economy, allowing them to retain more of their hard-earned money.
Jamie Siminoff and the Vision Behind Door.com
Stepping into his role as the “Chief Doorman” at Door.com, Jamie Siminoff brings invaluable experience from his tenure as the founder of Ring, a leading smart home company acquired by Amazon. Siminoff joined Latch immediately after his departure from Ring when Latch acquired his stealth startup, Honest Day’s Worker. Notably, Door.com plans to empower honest day’s workers across industries, providing them with tools for streamlined business management, from scheduling to invoicing.
Door.com’s rebranding signifies a renewed focus and determination to move past recent challenges. Delisted from Nasdaq trading due to unexpected delays in financial restatement, the company remains committed to completing the restatement and filing outstanding reports promptly. Despite these roadblocks, Door.com’s ultimate goal is to provide technology that serves service providers rather than exploiting them.
As the saying goes, when one door closes, another one opens. The journey of Latch into Door.com demonstrates their dedication to unlocking new opportunities and making a positive impact on the lives of service providers.
