Toor Lockbox’s net worth is $190 USD as of 2024. Toor Lockbox, a business featured on Shark Tank, has ceased operations and is not growing any earnings. Despite receiving a $500,000 investment from Kevin O’Leary and Barbara Corcoran, the product ultimately failed and the investors lost the entire acquisition.
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Toor Smart Lockbox is a smartphone-controlled device that allows authorized users to access their home keys remotely. It allows granting tailored access to cleaning or pooling benefits when you’re out or to Airbnb renters. The lockbox was created by Junior Desinor, who also co-founded City Natural, an oil company, with his wife after introducing Toor in 2018.
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Toor Lockbox Net Worth
| Founder | Young Desinor |
| Net worth (2024) | $190 |
| Investors | Kevin, Barbara |
| Annual revenue | $0.00 |
| Lifetime sales | 8,500 USD |
| Fair | 200,000 USD |
| Loan amount | 300,000 USD |
| Status today | Joint venture losses |
Background of Junior Desinor
Junior Desinor was raised by Haitian immigrants in Dallas, Texas. Despite the hardships growing up, he founded his company at age 18 and soon after purchased his first property. Desinor’s dedication to buying real estate led him to become president of the real estate club during his time at Texas Tech University.
Junior received his real estate license in 2008 and quickly became one of the youngest agents in his state. After working at Keller Williams Realty for more than 2 years, he decided to establish his own business called Level Properties in 2011. To date, this brokerage company is even operating successfully. In 2013 alone, Junior achieved exceptional real estate sales totaling more than $100 million.
Established Toor
After 15 years in business, Desinor realized that the current home buying procedure was ineffective. Potential consumers must depend on dealers to access and tour furniture, which often takes a significant amount of time due to scheduling appointments.
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Toor has created a smart lockbox solution to handle key security for existing properties. Lockbox comes with an app that allows brokers to grant or deny access to a property. Since its founding in 2016, Toor has focused on working with designated real estate brokers rather than individual providers. Through a successful Kickstarter campaign, they were able to earn $100,412 in pre-sales.
Toor lock box sales
Toor, the product launched on Shark Tank, initially had no deals and had not been tested in the market. Despite receiving $9,000 in pre-order funds, the product was never delivered and the consumer’s payment was refunded.
Kevin and Barbara lost their $200,000 acquisition but were able to get back the $300,000 loan they had granted to the business. Mark Cuban and Barbara tease Chris Sacca for saying Toor Lockbox is not impressive and has many competitors. Finally, Barbara gets a lovely ending in this episode.
What Happened to the Founder of Toor Lockbox?
Junior Desinor, the inventor of the Toor Lockbox, was highly praised for his sales skills in the shark tank episode. However, after the investment, it became clear that he lacked the necessary business abilities. Junior has difficulty managing inventory and lacks the specialized expertise to resolve product problems.
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Barbara hired Toor Lockbox’s creator, Junior Designer, for $100,000 per year after the company failed. Junior currently serves as a senior executive in Barbara’s real estate company and recently closed an $8 million real estate deal in Toronto. This successful trade brought him more than $75,000 in bonuses.
Barbara recouped her losses by hiring him, while Kevin accepted his investment as a loss. In an interview, Kevin expressed his guilt for falling into the hands of a convincing salesman despite only losing $100,000.
Toor Lockbox Yard
Junior Desinor, creator of Toor Lockbox, has joined Tank in pursuit of $500,000 for a 10% stake in his business. All of Toor Lockbox’s remote sales came from Kickstarter, where Desinor successfully pre-sold 800 units and garnered over $100,000 in earnings. While Chris Sacca expressed concern about competition in the market, other sharks showed interest in investment potential.
Regardless, Mark Cuban and Barbara supported Chris Sacca’s decision-making process and offered their support to the Toor Lockbox inventor. Chris Sacca’s investing instincts were validated when Barbara confessed to a notable error in judgment. The Toor she invested in on Shark Tank turned out to be one of her worst investments.
Conclusion
Unfortunately, Toor Lockbox has ceased operations and is no longer growing earnings. Their net worth currently stands at US$190. The logic behind their demise is uncertain, but factors such as market saturation or internal challenges such as poor management may have played a role. While $190 may seem small compared to other successful businesses, it represents the actions and investments of the founders and investors.
Source: https://anhngunewlight.edu.vn
Category: Net Worth