The first thing that comes to mind when you hear the words “Shark Tank” is the moniker “Scrub Daddy.” The product, the pitch, and the entrepreneur who validated the show’s promise and the power of a “committed entrepreneur”
Let’s take a look at how the firm is doing right now, what is Scrub Daddy’s net worth, and how much money Scrub Daddy is printing!
How Much Is Scrub Daddy Worth?
When it comes to the market valuation, Scrub Daddy is estimated to have a net worth of $250 million in the year 2022. Over the course of the past 4 years, Scrub Daddy has amassed more than $200 million in income!
Scrub Daddy has been shattering records since it made its “historic appearance” on the American version of Shark Tank, after which it was hailed as “Shark Tank US’s biggest success” and “One Shark Tank Product Actually Worth Buying.”
The brand has become a household name due to its steady growth and the wide variety of scrub daddy products it now offers and distributes.
Now coming to the sales, as of October 2019, the company’s lifetime sales were $209 million, proving that it is unquestionably one of the best brands to have ever appeared on the show!
Currently, Scrub Daddy is selling more than 20 products in 2021 including products like Scrub Daisy and has experienced an overall revenue gain of 80%. It is currently on track to grow by another 50% and reach sales of more than $100 million in 2022!
Scrub Daddy Founder And His Net Worth
The real daddy behind Scrub Daddy, “Aaron Krause”, is truly an inspiration for all the budding entrepreneurs out there. Turning a simple idea of cleaning sponges into a multi-million dollar company — truly requires serious planning and strategy!
Aaron, right from his early life, had a knack for inventing things, making unique creations, and coming up with creative ways to streamline and improve processes.
After graduating, he worked as a car detailer. While he was there, he damaged a car while machine polishing, which inspired him to create a brand-new type of buffing pad, which the 3M Corporation eventually acquired in 2008.
Three years later, detailer Aaron Krause applied his creative thinking to create the Scrub Daddy, a regular sponge with not-so-regular features, to simplify the chore of dishwashing and kitchen cleanup.
A revolution in and of itself, he created a sponge that could soften in warm water and harden in cold water — easing down the whole struggle behind tough scrubbing!
Having said that, let’s find out how much money Aaron has actually made with his brilliant innovation and how much he is currently worth! Krause’s net worth is estimated to be around $70 million as of 2022 — proving Scrub Daddy is actually “America’s favorite sponge”!
History Of Scrub Daddy
Before Shark Tank
Everyone is familiar with Aaron Krause as the most successful entrepreneur who has ever appeared on Shark Tank; nevertheless, very little is known about his life and the history of Scrub Daddy inc. prior to his appearance on the show.
Well, he started with a small car-washing business in the 1990s, and soon launched his own line of buffing and polishing pads after he damaged his own car while cleaning it. After some time, the entire line of buffing pads was ultimately acquired by the multinational corporation 3M.
Exactly after five years, one day, he made a magical discovery when he noticed that sponges’ material had polymer in it which varied its texture in hot water and cold water, and this realization led to the creation of something called “Scrub Daddy.”
Before appearing on the show “Shark Tank,” Scrub Daddy was already doing well in the retail industry during the early years of the company’s existence. The business already made three appearances on QVC, and each time it saw an increase in its overall sales.
In just 4 months prior to entering the show, it had generated over $100,000 in sales — proving the potential this product already possessed!
Read more: Scrub Daddy
After Shark Tank
After 3 arduous months of auditions, Scrub Daddy’s entry on the show Shark Tank overnight altered everything.
The QVC Queen, Lori Greiner, was drawn in by their incredibly powerful Shark Tank pitch, and made a mind-blowing $200,000 investment for a 20% stake in Scrub Daddy!
After the incredible Shark Tank episode aired, the king of cleaning product “Scrub Daddy” sold 42,000 sponges in less than 7 minutes — marking the product’s spectacular sales run!
In 2017, Scrub Daddy had reached lifetime sales of more than $100 million, making it the most lucrative product on Shark Tank. Currently, it has sold more than 25 million units — showing that customers do actually adore it!
The company as a whole has experienced tremendous retail success throughout the years and is anticipated to generate sales of over $100 million in 2022!
With over 3 billion global downloads, Scrub Daddy is reigning in social media platforms like TikTok as well and making the most of the app!
Q1. How much did Lori make off of Scrub Daddy?
Among all the Shark Tank investors, Mark Cuban, Robert Herjavec, Kevin O’Leary, and Daymond John, shark Lori Greiner, renowned as the “Queen of the QVC” was the only person who put her faith in Scrub Daddy and spent a staggering $200,000 for a 20% investment!
Lori Greiner is expected to generate over $20 million with Scrub Daddy, making it one of the greatest and most lucrative businesses on the show and increasing her total investments by 100 times!
Q2. Who owns Scrub Daddy Now?
The Scrub Daddy CEO, founder, and current owner is Aaron Krause, a successful businessman, and entrepreneur, hailing from Wynnewood, Pennsylvania.
With more than 20 years of experience in patenting and creating cutting-edge
technologies, he is one of the most successful entrepreneurs to have entered the show and currently has a net worth of over $70 million!
Q3. How much does a Scrub Daddy make?
As reported by various sources, Scrub Daddy’s net worth is currently over $250 million dollars — making it one of most successful products to be ever on Shark Tank!
The Scrub Daddy sponge a.k.a. the smiling sponge has generated more than $200 million in revenue just in the previous 4 years, making it a market leader in the cleaning products sector!