← Back to the club

Latch (DOOR)

ProptechUSA
📉 Public < $1B
Peak $1.5 BillionToday
~-98%
from peak
  1. 🦄
    Became a unicorn
    2021
  2. 📈
    Peak valuation
    $1.5 Billion ’21
  3. 💔
    Became a Unitard
    2022
  4. 💸
    Last valuation
    ~$30M
Current status
Public ~$0.03B; trades OTC

How it happened

Latch, a smart-lock and building-access proptech firm, went public via SPAC in June 2021 at roughly a $1.5B valuation. It was hit by an accounting scandal that forced restatements and delayed filings, leading to a delisting from Nasdaq. The stock collapsed to OTC trading at around ~$0.03B by 2026, down roughly 98% from peak.

Source: Macrotrends May 2026