Toor Smart Lockbox Shark Tank Net Worth 2023
Toor appeared on season 8 of Shark Tank, asking for $500,000 in return for 10% equity. The company was valued at $5 million.
Junior Desinor secured a deal with Kevin O’Leary and Barbara Corcoran on Shark Tank, but the deal fell through after it was initially secured during the pitch. Toor is still in business but has gone quiet on social media.
According to Junior’s 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.
At the time of its Shark Tank appearance, Toor was valued at around $2 million. However, as of now, the company is out of business.
What is Toor Smart Lockbox? Who is the Founder of Toor Smart Lockbox?
The Toor Smart Lockbox is a user-friendly outdoor security device designed to safeguard your house keys while granting access to authorized users through a smartphone app request and invitation to open the box.
This intelligent lockbox enhances the real estate and hospitality industries by allowing realtors and hosts to remotely control their lockbox, making it easier to connect potential buyers, tenants, contractors, and other individuals.
The founder and CEO of the company is Junior Desinor, whose parents migrated from Haiti to Texas when he was a child in search of a better life.
Toor was introduced in 2018, in conjunction with an e-commerce partnership and a real estate client.
The Toor lockbox first appeared on Kickstarter in 2016 and raised more than $100,000 in funding from 108 supporters for their exclusive lockbox system.
Toor was featured on Shark Tank shortly after a successful Kickstarter campaign, during which Junior Designor accepted an offer from Barbara Corcoran and Kevin O’Leary for a $2 million valuation and a $300,000 loan.
Despite the Sharks’ deal falling through, the company received additional funding from other investors.
Toor Smart Lockbox Shark Tank Pitch
Desinor made their debut on “Shark Tank,” where they pitched their business idea and requested $500,000 in exchange for a 10% stake.
While guest shark Chris Sacca described their technology as “ancient,” Barbara Corcoran believed that there was no need for technological innovation.
Despite finding the company’s valuation to be too high, Kevin O’Leary offered $500,000 for a 10% stake and an additional $400,000 as an 18% loan.
Corcoran agreed to join forces with O’Leary on the condition that the business be sold to a significant real estate corporation.
Eventually, Desinor agreed to a deal with O’Leary and Corcoran for $200,000 in exchange for a 10% stake and a $300,000 loan with conditions attached.
However, Barbara and Kevin’s agreement was never finalized. Following the airing of the show, Junior declined the shark’s original offer, and no contract was ever completed.
Subsequently, Toor, which had initially been a lockbox for real estate purposes, evolved into a more versatile device that could be used in various contexts to enhance security. Junior began shipping the boxes in 2018 and collaborated with Touch of Modern.
Toor Net Worth
Junior estimated the worth of his product at $5 million when he requested $500,000 in exchange for a 10% interest in the firm.
What is Toor?
TOOR is a game-changing technology firm that provides products and services that enable property access easier and more secure.
Who is Junior Desinor?
Junior Desinor is the founder and CEO of Toor.
What Was Junior Desinor’s Deal?
Kevin made Junior an offer despite his concern that Junior overvalued his firm.
His proposal was to provide Junior $100,000 in exchange for 10% equity and the balance $400,000 as a loan at an interest rate of 18%.
Following Mark Cuban‘s offer, Barbara chose to collaborate with Kevin on the deal.
Barbara’s contract, however, was conditional on the product eventually being sold to larger real estate corporations.
After Barbara and Kevin countered with a request for $250,000 for 10% stock and the rest half as a line of credit, the three finally agreed on a deal for $200,000 for 10% equity and $300,000 as a loan with the contingency in place.
How Toor Lockbox funding did started?
The Toor lockbox initially appeared on Kickstarter in 2016, where it received over $100,000 from 108 supporters for their patented lockbox design.
What was the deal?
Toor was featured on Shark Tank shortly after a successful Kickstarter campaign, where Junior Designor accepted an offer from Barbara Corcoran and Kevin O’Leary of $200,000 for 10% equity (a $2 million valuation) with the inclusion of a $300,000 loan.
What exactly is the Toor Smart Lockbox?
The Toor Smart Lockbox is an easy-to-use outside security device that allows you to keep your house keys safe while providing access to approved users via a smartphone app request and invite to open the box.
What are the plans?
With the design completed, he decided to begin seeking for more investors to aid him in production and bringing the product to market.
What are people saying about Toor?
Toor has gotten mixed reviews since its inception.
What are the drawbacks of Lockbox?
Customers adore the lockbox’s appearance and technology, but many have complained about the software, which has been described as glitchy and difficult to use.
What Exactly Was Junior Desinor’s Deal?
Junior eventually struck a deal with Barbara Corcoran and Kevin O’Leary for a $200,000 investment at 10% with $300,000 as a loan with a condition.
What is the cost of the lockbox?
Following a successful Kickstarter campaign, the lockbox would retail for $199 per device at launch, with a monthly monitoring charge of $100.
What are Toor’s major milestones?
Toor’s branding has experienced the most profound change since Junior Desinor’s presentation on Shark Tank.
What is Toor Now?
Toor was initially offered as a tool for use just in the real estate business, but it is now identified as an Access and Scheduling firm.
Who is Junior’s target market?
Because of this feature, Junior Desinor focused his idea firmly at real estate professionals, who could allow their clients to enter from wherever they were.
What Are the Advantages of Lockboxes?
Lockboxes serve as a secure location where realtors and potential purchasers may leave or pick up keys to get entry to a home, workplace, or apartment.
What are the potential applications of TOOR?
TOOR, for example, may be useful for AirBnB operators because key hand-off is an important component of the business.
What’s the deal with Barbara and Kevin?
They ultimately decide on $200,000 for 10% plus a $300,000 line of credit.
Barbara and Kevin’s deal never materialized.
Who invested in Toor?
Even though guest shark Chris Sacca says the technology is already available on the market, real estate guru Barbara Corcoran and Kevin O’Leary decided to invest $200,000 in exchange for 10% stock in Toor and a loan of $300,000.
What is the price of Toor?
The Toor smart lockbox ($199) is available for purchase as of March 2018.
What are your company objectives?
Desinor’s sale of the goods to a significant real estate business was a condition of the agreement.
What was the proposal?
He informed the Sharks he wanted $500,000 in exchange for a 10% interest in his firm, Toor.
How do I make use of Toor?
Buyers may use the app to book house viewings without the presence of a realtor.
Guest will be allowed to visit the property after the seller has approved their showing.
A lockbox intended to be hung outside vacant properties may be one such device.
What Was Junior’s First Business?
Junior has been reselling properties since he was 18 years old before going on Shark Tank.
Is Still in Business?
Toor is still in operations as of December 2021