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{"id":32357,"date":"2023-05-16T22:21:12","date_gmt":"2023-05-16T22:21:12","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/05\/16\/rings-founder-will-become-latchs-ceo-after-selling-a-stealth-startup-to-the-company\/"},"modified":"2023-05-16T22:21:12","modified_gmt":"2023-05-16T22:21:12","slug":"rings-founder-will-become-latchs-ceo-after-selling-a-stealth-startup-to-the-company","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/05\/16\/rings-founder-will-become-latchs-ceo-after-selling-a-stealth-startup-to-the-company\/","title":{"rendered":"Ring\u2019s founder will become Latch\u2019s CEO after selling a stealth startup to the company"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/05\/16\/rings-founder-will-become-latchs-ceo-after-selling-a-stealth-startup-to-the-company\/<\/a><\/br>
\nRing\u2019s founder will become Latch\u2019s CEO after selling a stealth startup to the company<\/br>
\n2023-05-16 22:21:12<\/br><\/p>\n

\n

Jamie Siminoff has been busy. The Ring founder quietly exited the advisor role he took back in March after exiting the brand\u2019s CEO role. He had been at Amazon since its 2018 acquisition of the firm. Turns out he\u2019s sold yet another startup \u2014 this time one you\u2019ve never heard of. The clunkily named Honest Day\u2019s Work (HDW) has been acquired by Latch, best known for its proptech smart lock and corresponding operating system.<\/p>\n

As part of the deal, Siminoff will be stepping into Latch\u2019s CEO role later this year, replacing the interim chief exec, Jason Keyes. Siminoff joins Latch during a difficult transitionary period. Almost exactly a year ago, the company announced<\/a> that it had cut a total of 130 people \u2014 around 28% of its full-time roles.<\/p>\n

In a letter to Latch staff, then-CEO Luke Schoenfelder explained that the layoffs were carried out to \u201censure Latch is on a path to sustainable growth.\u201d This January, Schoenfelder stepped down, along with chief financial officer Barry Schaeffer and chief accounting officer Junji Nakamura.<\/p>\n

\u201cFrom co-founding Latch at my kitchen table to leading it to its current scale, I am enormously proud of the products we\u2019ve delivered for customers\u201d Schoenfelder said at the time, \u201cand I am excited to continue to support Latch\u2019s new leadership team as a proud stockholder and advisor going forward.\u201d<\/p>\n

Siminoff\u2019s HDW is a platform targeting \u201cresidential service provides, including drivers, dog walkers and housekeepers. It\u2019s easy to see how it might be implemented into Latch\u2019s broader offering, which intends to be a kind of one-stop shop for building management.<\/p>\n

\u201cI\u2019m excited to join the Latch team, which has built an incredible offering that users across the country enjoy and benefit from every day,\u201d Siminoff said in a release. \u201cSmart, secure access control is not only fundamental to real estate operators like myself, but also to residents and service providers. I look forward to combining Honest Day\u2019s Work with Latch to build a residential ecosystem that empowers building owners, operators, service providers, and residents alike.\u201d<\/p>\n

Per the details of the deal, Latch is acquiring 100% of HDW\u2019s capital stock for 29 million of its own. The company says HDW\u2019s 30 member team will join its own workforce. It expects the deal to be completed in Q3 of this year, pending all of the standard regulatory scrutiny.<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Science, Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/05\/16\/rings-founder-will-become-latchs-ceo-after-selling-a-stealth-startup-to-the-company\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/05\/16\/rings-founder-will-become-latchs-ceo-after-selling-a-stealth-startup-to-the-company\/ Ring\u2019s founder will become Latch\u2019s CEO after selling a stealth startup to the company 2023-05-16 22:21:12 Jamie Siminoff has been busy. The Ring founder quietly exited the advisor role he took back in March after exiting the brand\u2019s CEO role. He had been at Amazon since its 2018 acquisition of the firm. Turns out […]<\/p>\n","protected":false},"author":1,"featured_media":32358,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-32357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\nRing\u2019s founder will become Latch\u2019s CEO after selling a stealth startup to the company - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/05\/16\/rings-founder-will-become-latchs-ceo-after-selling-a-stealth-startup-to-the-company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ring\u2019s founder will become Latch\u2019s CEO after selling a stealth startup to the company - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/05\/16\/rings-founder-will-become-latchs-ceo-after-selling-a-stealth-startup-to-the-company\/ Ring\u2019s founder will become Latch\u2019s CEO after selling a stealth startup to the company 2023-05-16 22:21:12 Jamie Siminoff has been busy. 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