In 2017, real estate agent Junior Desinor pitched his innovative product, the Toor lockbox, on the 8th season of the hit TV show Shark Tank. Desinor’s smart lockbox, designed specifically for real estate agencies, caught the attention of the Sharks. Let’s dive into the Toor Shark Tank journey and see where the company stands today.
The Toor Pitch and Deal at Shark Tank
Junior Desinor entered the Tank seeking a $500,000 investment in exchange for a 10% stake in his company. He introduced the Sharks to the Toor lockbox, a smart lockbox that could be controlled and monitored remotely using a smartphone app. The lockbox was designed to streamline the process of showing properties for real estate agents.
Desinor’s pitch impressed the Sharks, particularly Barbara Corcoran and Kevin O’Leary. After some negotiation, Desinor struck a deal with Corcoran and O’Leary for a $200,000 investment for 10% equity, along with an additional $300,000 loan. However, the deal was contingent upon the product being sold to larger real estate companies in the future.
Is Toor Still in Business?
Following his appearance on Shark Tank, Desinor launched the Toor lockbox in 2018. Despite the initial hype and the deal with Corcoran and O’Leary, the product did not perform as well as expected. The lockbox received a 2-star rating on Amazon, and the company’s social media pages have not been updated since 2018.
The Toor lockbox was initially designed for real estate use but later evolved into a more versatile product for broader security needs. However, as of 2023, the Toor lockbox is not currently available for purchase, with all purchasing options marked as unavailable on the company website.
What Was Toor Net Worth?
Prior to appearing on Shark Tank, Desinor’s company had already pre-sold 800 units of the Toor lockbox through a Kickstarter campaign, amounting to over $100,000 in sales. The exact net worth of Toor after the show is not publicly known, as the company has not disclosed its financial information.
Impact of Shark Tank on Toor
Although Desinor secured a deal with Barbara Corcoran and Kevin O’Leary on Shark Tank, he ultimately did not proceed with the deal. However, he maintains a close relationship with Corcoran, who has been supportive of his entrepreneurial journey.
The exposure from Shark Tank provided Toor with a platform to showcase its product to a wider audience. Despite the challenges faced by the company post-show, the experience undoubtedly contributed to Desinor’s growth as an entrepreneur.
Business Overview
Since his appearance on Shark Tank, Junior Desinor has continued to pursue his entrepreneurial dreams. In 2020, he co-founded a high-end CBD oil business called ‘City Naturals,’ which operates from a physical store in Dallas, Texas. Desinor’s ability to pivot and explore new business opportunities demonstrates his resilience and adaptability as an entrepreneur.
Conclusion
The Toor lockbox’s journey on Shark Tank and beyond is a testament to the challenges and opportunities that come with bringing an innovative product to market. While the Toor lockbox may not have achieved the success Desinor had hoped for, his experience on the show and his subsequent ventures showcase his determination and entrepreneurial spirit.
As with many businesses that appear on Shark Tank, the true measure of success lies not just in the immediate outcome, but in the lessons learned and the doors opened. Junior Desinor’s story serves as an inspiration to aspiring entrepreneurs, reminding them that setbacks are a part of the journey and that perseverance and adaptability are key to long-term success.
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