Scrub Daddy is a well-known Company that manufactures smiley-faced polymerized sponges. In 2016, Lori Greiner as one of the Sharks of television series ‘Shark Tank’ show of ABC networks pitched Scrub Daddy. Soon after, Scrub Daddy sold a large number of its products. Continue reading to find the net worth of Scrub Daddy as of 2018.
Scrub Daddy was founded by Aaron Krause, famous for his unique inventions. Already, Aaron Krause holds 13 patents. While working on his own business as a car detailer, one day Aaron Krause damaged a car. He required padding for rubbing and polishing. This led to his discovery of the special sponge, and he created ‘Sponge Daddy’ that was bought by 3M Company in 2008.
In 2008, when Aaron Krause’s ‘Sponge Daddy’ was sold some of his sponges were still in his garage. After five years, Aaron Krause used them for cleaning dishes, kitchen sink and furniture from the garden. This led Aaron Krause to create his new Company, ‘Scrub Daddy.’ The website confirms that ‘Scrub Daddy Inc.’ was established with grassroots in 2012.
Scrub Daddy manufacture smiley faced special high-tech polymerized sponges at only $1 for each piece. The special feature of these sponges is that it can clean both rough and smooth surfaces. When the sponge is dipped in cold water, it turns hard and becomes suitable for cleaning course surfaces. Yet, when the same sponge is immersed in warm water, it turns soft suitable and becomes suitable for cleaning smooth surfaces.
The sponge never leaves any scratch mark on the surfaces. Moreover, the sponge proved to be durable, functional, hygienic and odorless. The smiley-faced sponges have been a great success in the commercial market.
Initially, the Shark Tank episodes of ABC network television series started broadcasting since October 2012. On one of the shows, Lori Greiner, one of the Sharks spent $200,000 to make 20% equity stake deal with the founder, Aaron Krause. The very next day, Lori Greiner and Aaron Krause sold out. After the Shark Tank Show, the sale of the smiley-faced sponge of Scrub Daddy reached a record high. Within 7 minutes, QVC sold out 42,000 sponges and later reported selling up to 2 million units.
Further, Lori Greiner helped Scrub Daddy to sell its major product through retail stores like Bed, Bath & Beyond, ‘Wal-Mart’ and others. As of January 2017, Scrub Daddy’s total revenues were over $100 million. This was the highest figure that any product of Shark Tank ever made in its history.
Net Worth & Earnings:
The net worth of Scrub Daddy Inc is over $100 million. Aaron Krause’s Company, ‘Scrub Daddy’ made and sold special smiley faced sponges. Lori Greiner, a successful businesswoman and one of the Sharks in ‘Shark Tank’ show of TV’s ABC Channel bought ‘Scrub Daddy’ at $200,000 for 20% stake. No one knows the correct net worth of ‘Scrub Daddy Inc.’ It is reported that the Company, Scrub Daddy spend only $1 on manufacturing one sponge but, Scrub Daddy Inc is worth over $100 million.
Scrub Daddy Inc has successfully sold the special smiley faced high-tech polymer sponges in the US. Also, the same product is popularly sold in France, Italy, Korea, Russia, the UK, and others. Also, Aaron Krause has manufactured and launched several other types of sponges for selling at Scrub Daddy. These products include lemon-scented, multiple colors, Scrub Daddy Heavy Duty, Scrub Mommy, half Scrub Daddy material, and half foam sponge. The Scrub Daisy has been added as the latest line up product of Scrub Daddy Inc.