What Happened to Toor After Shark Tank?
What is Toor?
Toor Smart Lockbox is a valuable external security feature that allows you to safely keep your house keys secure while enabling authorized users to open the box via a smartphone app request and invite.
So, even if you’re on vacation or on business, if you have a regular home cleaning or pool service, you can still give them authorized access to your property while monitoring updates on your phone from anywhere in the world.
It’s also ideal for homeowners who rent out their homes to holidaymakers on Airbnb. Junior Desinor is the founder and CEO of Toor. His parents, who were born in Haiti, moved to Texas as children in search of a better life.
Toor made its market debut in 2018, along with an e-commerce partnership and a real estate client. Junior and his wife have recently invested in and co-founded City Natural, an oil firm.
Who is the founder of Toor?
Toor’s creator and CEO is Junior Desinor. His parents, who were born in Haiti, moved to Texas as children in search of a better life.
Junior’s business idea was inspired by his real estate days, when he considered the convenience of letting potential buyers to view your home without the presence of a real estate agent to answer the door.
Toor’s smart lockbox and supporting software are designed to level the playing field. Buyers may use the app to schedule house showings in the absence of a realtor.
If a seller requires the presence of a realtor, the technology enables online, on-demand booking. Because all users must register when installing the app, sellers know who has been in their home, when they were there, and how long they stayed.
Sellers and realtors may also arrange certain showing hours, which helps to reduce the number of unscheduled showings.
Realtors can also benefit from the Toor app. It consolidates all local MLS listings, eliminating the need for several apps. When realtors are soliciting homes, employing technology to boost showings has been demonstrated to be a good marketing tactic.
Desinor, a seasoned real estate agent, founded the firm in May 2016 with a $100,412 Kickstarter campaign.
He assures that the lockboxes will be manufactured in the United States. He has finalized the design but has not yet manufactured any boxes.
What Happened to Toor at Shark Tank pitch?
Junior Desinor wants Toor, his smart lockbox that allows buyers, sellers, and brokers to quickly book house visits, to transform the way people browse for real estate. Junior calls for a Shark in Shark Tank episode 8 season 8 to help fund production and develop contacts in the real estate market.
Junior entered the Shark Tank pitch $500,000 for a 10% stake in his company, which was worth $5 million.
Before inviting Barbara onstage, he explains his story and makes his case. Before taking questions, he illustrates how it works.
Kevin was interested in what happens if the key is not returned: the seller gets notified.
Lori was concerned about unsupervised youngsters on her property. The seller may request the services of a real estate agent.
Kevin inquires about sales, mentioning that his only sales had come through Kickstarter. This translates to 800 boxes being pre-sold. Junior constructed them for $50 and sells them at $199.
When questioned whether this is new technology, Chris grows upset.
Lori was the first Shark to exits, citing that it was “too soon.”
Kevin offers $100,000 for 10% equity shares and $400,000 for 18% interest.
Mark now acknowledges that he understands very nothing about the real estate business and exits.
Barbara indicates interest in working with Kevin on the deal if the product is placed in the hands of a major retailer.
Junior would market it, while Barbara would create introductions. At this point, Chris exits.
Junior responds with $250,000 in return for 10% equity and a $250,000 loan.
They eventually settle on $200,000 for 10% ownership and a $300,000 line of credit. Junior ultimately walked away from the pitch with a deal.
What Happened to Toor After Shark Tank?
After being secured during the pitch, the deal with Barbara and Kevin never concluded. Junior started shipping boxes in 2018 and worked with Touch of Modern.
On his Linkedin page, he still advertises the company as open; however it does not appear that he is selling any lockboxes as of December 2021, with an annual income of $600,000.
Toor’s Competitors
Toor’s main rivals are Dallas Safecracker LLC, Zixcorp Systems, Inc., and Zix Corporation.
Toor’s Net Worth
During the pitch, the firm was valued at $5 million; following the investment by two Sharks, the company was valued at $2 million. Since then, the firm has grown to $600,000 in annual revenues in 2021 and hence the company net worth might have been higher than that of pitch.
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Toor FAQs
What is Toor?
Toor is a smart key lockbox that enables users to securely lock and unlock doors while granting access via smartphone.
How did Toor come about?
Junior Desinor, the creator of Toor, was inspired by the convenience of letting potential sellers see his property without the presence of a realtor who can answer the door.
This led him to create a smart key lockbox that allows users to grant access to people via smartphone for approved events such as house showings, business meetings, and other events.
How long has Toor been in business?
The company was established in 2016 and officially launched its products on 2018.
How much do Toor cost?
Their first product, a wall-mounted smart lockbox, is available for $199 on their website.
How does Toor work?
Toor locks, unlocks and detects with an app. It allows up to ten people to gain access simultaneously, with each user being identified by a unique code.
Who can buy Toor?
Toor is available for purchase online in the U.S., Canada and select Asian markets.
Why is Toor different from other smart key lock companies?
Toor is the first smart key lockbox that allows users to unlock doors without having to wake up a doorman or risk getting caught by neighbors.
Is Toor safe to use?
Toor is as safe as any lockbox, as it uses standard security protocols that would allow users to identify themselves and let anyone in. Still, there are inherent risks that come with the use of online check ins.
Are children allowed to use Toor?
Toor was designed with the needs of children in mind. Each Toor box includes a sensor that will send an alert to the user if any unauthorized persons enter through the door before being closed again.
What is Toor return policy?
Toor is protected by a lifetime guarantee and 90-day money back guarantee.
Is Toor durable?
Yes. Toor is built using high quality materials, which ensures its longevity.
How much does Toor weigh?
It is light and easy to carry, so it will not weigh much on the hands.
What is Toor security alert system?
Toor includes a sensor that will send an alert to the user if any unauthorized people’s entry through the door before being closed again.
How do I set up Toor?
The installation of the box is very straightforward: all the user has to do is insert the key in its interface, then hold it up to their smartphone via Bluetooth and tap on their app.
Is it waterproof?
No, but it can withstand the elements, making it perfect for outdoor use.
Where to buy Toor online?
Customers can purchase a Toor online from the company’s website as well as Amazon.
