# Smart-lock company Latch to go public

**Published by:** [Brandon Donnelly](https://brandondonnelly.com/)
**Published on:** 2021-01-25
**Categories:** apartment, business, condo, development, latch, latchos, multi-family, real-estate, smart-lock-system, tech, tishman-speyer
**URL:** https://brandondonnelly.com/smart-lock-company-latch-to-go-public

## Content

The WSJ announced today that smart-lock company Latch is getting SPAC'ed (i.e. going public). The deal, which is sponsored by commercial real estate firm Tishman Speyer, values the company at about $1.56 billion. One of the things that is attractive about Latch is that they're a lot more than just a smart-lock company. They really bill themselves as being a "full-building operating system." Their platform, called LatchOS, offers everything from access door solutions to guest/delivery management. If you operate a multi-family apartment building, one of the first things that you would like to do away with is all of your suite entry keys. They are a pain to manage. So smart entry locks are a huge value-add. I guess that's why 1 in 10 apartments in the US are now being built with LatchOS, according to the company. Another thing that is attractive about Latch is that they operate as a SaaS/subscription service. So reoccurring revenue and (probably) a higher multiple. Given that changing all of the locks in a big apartment building is no simple task, there are also some natural barriers to churn. To learn more about today's announcement, you can check out the WSJ or TechCrunch.

## Publication Information

- [Brandon Donnelly](https://brandondonnelly.com/): Publication homepage
- [All Posts](https://brandondonnelly.com/): More posts from this publication
- [RSS Feed](https://api.paragraph.com/blogs/rss/@brandondonnelly): Subscribe to updates
- [Twitter](https://twitter.com/donnelly_b): Follow on Twitter

## Optional

- [Collect as NFT](https://brandondonnelly.com/smart-lock-company-latch-to-go-public): Support the author by collecting this post
- [View Collectors](https://brandondonnelly.com/smart-lock-company-latch-to-go-public/collectors): See who has collected this post