Toor Lockbox Net Worth 2023 | Toor Shark Tank Update
What is Toor?
The Toor Smart Lockbox is a device that allows authorized users to access your house keys through a smartphone app, even when you’re away.
This makes it easy to grant access to cleaning or pool services while you’re on vacation, or to renters on Airbnb.
The lockbox was created and is led by Junior Desinor, who also co-founded an oil company named City Natural with his wife after the debut of Toor in 2018.
Who is the founder of Toor?
Toor, a company founded and led by Junior Desinor, aims to revolutionize the real estate industry by providing a smart lockbox and accompanying software for home showings.
The technology allows buyers to book showings without the need for a realtor and gives sellers the ability to track who has been in their home and when.
The app also combines local MLS listings for realtors’ convenience.
Desinor, who was inspired by his own experiences in real estate, raised $100,412 on Kickstarter to launch the company in May 2016 and plans to manufacture the lockboxes in the United States.
What Happened to Toor at Shark Tank pitch?
Junior Desinor is the creator of Toor, a smart lockbox that aims to revolutionize the real estate industry by making it easier for buyers, sellers, and agents to schedule home tours.
He appears on Shark Tank, seeking an investment of $500,000 for 10% equity in his company, which is valued at $5 million. He demonstrates the product and answers questions from the Sharks.
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Kevin offers $100,000 for 10% equity and a $400,000 loan at 18% interest.
Barbara expresses interest in joining Kevin’s deal if the product is placed in a major store and Junior counters with $250,000 for 10% equity and a $250,000 loan.
They ultimately agree on $200,000 for 10% equity and a $300,000 line of credit. Junior leaves the pitch with a deal.
What Happened to Toor after Shark Tank?
Barbara and Kevin’s deal fell through after it was initially secured during the pitch. Junior started sending out boxes in 2018 and worked with Touch of Modern.
However, on his LinkedIn profile, the firm is still listed as active, although it seems that he is not currently selling any lockboxes and had an annual revenue of $600,000 as of December 2021.
Competitors of Toor
The primary competitors of Toor are; Dallas Safecracker LLC, Zixcorp Systems, Inc. and Zix Corporation.
Toor Lockbox Net Worth
Junior Desinor, the creator of Toor, appeared on Shark Tank seeking an investment of $500,000 for 10% equity in his company, valuing it at $5 million. He demonstrates the product and answers questions from the Sharks.
After receiving investment from two Sharks (Barbara & Kevin), the company’s valuation dropped from $5 million to $2 million.
However, with yearly sales of $600,000 in 2021, it appears the company’s net worth could be higher.
Toor FAQs
What is Toor?
Toor is a smart lockbox that allows users to see whether or not they have been granted access to the property.
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Who is the inventor?
Junior Desinor is the inventor of Toor.
How much was asking on Shark Tank?
Junior Desinor asked for $500,000 for a 10% stake in his company, which is worth at $5 million.
Who was the first to invest?
Kevin O’Leary and Barbara Corcoran were first investors in Toor.
How much did they invest?
They invested $200,000 for 10% equity shares plus $300,000 in line of credit.
Is Toor still in business?
Yes, Toor is still in business with annual sales of $600,000.
Is Toor safe to use?
Yes, Toor is safe to use.
Does Toor come with a warranty?
Yes, Toor comes with a warranty.
How much does Toor cost?
Toor costs $199 for the lockbox and key. The lock box comes with an optional key fob for $19.99 each.
What are the benefits of using Toor?
The primary benefit of using Toor is convenience and functionality as it only requires a simple install of the app on iOS or Android devices to start using it.
What Makes This Product Unique?
Toor is an application that allows users to view properties without any key and also keeps tracks of who enters their property and when they enter their property.
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Where is it manufactured?
It’s manufactured in China and the United States. Toor is manufactured in the US.
How many times can someone use Toor?
The daily limit set by the app is 12, with 30-minute intervals during which no one is able to use the lockbox.
What is the return policy of Toor?
Toor offers refunds within 10 days of the purchase.
What are the payment methods of Toor?
Toor has three payment methods; Visa, MasterCard and American Express.
Who are the dealers who sell Toor?
Toor is sold by several dealers; Amazon, Home Depot and Lowe’s
What is the net worth of Junior Desinor?
Junior Desinor net worth is unknown.