ST. LOUIS--(BUSINESS WIRE)--Latch, Inc., soon to be rebranded to Door.com, today announced it is moving its headquarters from New York City to St. Louis. Located at 1220 N. Price Road in the Olivette community, the leased facility features both warehouse and office space, bringing all inventory and select core business functions together under one roof. The company believes this streamlining of activities in St. Louis will enable better support to its customers and will continue to drive more operational discipline and efficiency. With 16 new team members already based in St. Louis, Latch plans to bring more than 30 total jobs to the city to support future growth and strengthen its team in the area.
“The new headquarters will allow us to bring key teams together, such as sales and finance, centralize inventory, process returns, and perform testing in-house to create a strong foundation for building the business long term and handling potential future accelerated growth,” said Jamie Siminoff, Chief Doorman. “St. Louis is an ideal location as it is centrally located, offers an affordable cost of living, and has a diverse talent pool, especially in the tech and manufacturing sectors. Simply said: we love St. Louis!”
For the design of the new headquarters, the company is teaming up with locally-based Oakline Studio, a full service design and architecture firm, as well as CI Select to furnish the space. The 48,000+ square foot facility will feature cement floors and exposed ceilings for a modern, open layout.
The office will be led by current St. Louis-based team members, including David Lillis, SVP of Finance, and Chris Peckham, Head of Sales. Expected to take over as Chief Financial Officer later this year, Lillis will work closely with the team on-site to streamline processes and drive cost optimization initiatives. Peckham will remain focused on implementing new growth strategies and a simplified structure as the company continues to scale.
The company is currently hiring across Sales, Finance, Engineering, and Warehouse Operations in St. Louis for key roles such as Accounting Senior Manager, Revenue Operations Manager, Accounting Director, Operations Coordinator, Head of Firmware QA, Senior Payroll Advisor, Inventory Accountant, Revenue Accountant, and more. To apply, visit https://www.latch.com/careers.
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.
About Latch, Inc.
Latch makes spaces better places to live, work, and visit through a system of software, devices, and services. For more information, please visit www.latch.com.
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; the company’s industry position; transition in the company’s management team; and the transition to a new headquarters. 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.