Scrub Daddy Net Worth

Scrub Daddy Net Worth
Scrub Daddy Sponge
source: @scrubdaddy Instagram

What is Scrub Daddy net worth?

Alice Feeney, a British novelist, said, “Sometimes it only takes one person to believe in you to change your life forever…..” and she could not have put it any better.

A true testament to the statement is the American show Shark Tank. Since it was first aired, the show has gone on to change the life of many entrepreneurs through the”sharks” investing in their dreams.

 

Among the most notable life-changing moments is Daymond John’s investment in Bomba socks, which has more than $250 million in sales.

 

However, Lori Greiner’s investment in scrub daddy is not far from that. The product has gone on to rack up millions of sales, but Scrub Daddy Net Worth remains a mystery to many.

 

What is Scrub Daddy net worth?

Scrub Daddy Net worth
Scrub Daddy Cleaning sponge
source: @scrubdaddy Instagram

 

Scrub Daddy produces a smiley-faced sponge cleaner that gained popularity after being presented on Shark Tank. As of 2023, Scrub Daddy net worth is estimated to be $209 million from sales revenue.

What is Scrub Daddy?

 

Scrub Daddy is a company known for its reusable smiley-faced cleaning sponge that is safe when cleaning non-stick materials. It made a breakthrough in the cleaning industry by being pitched by its creator on shark tank.

 

Unlike most cleaning sponges made of cellulose, nylon, or polyester, it is made of a polymer that makes it stand out from the rest. Its material makes it able to change texture when placed in water with different temperatures.

 

For instance, as shown by its creator, it becomes soft and fluffy when placed in hot water, and contrastingly, it becomes stiff and rigid when placed in cold water.

Who owns Scrub Daddy?

Aaron Krause, now an established entrepreneur and innovator, is the brains behind the revolutionary scrub daddy sponge.

Scrub Daddy Net Worth
Aaron Krause poses with Scrub Daddy samples

With over two decades of experience developing innovative products and a bachelor’s degree in psychology from Syracuse University, it is no surprise he came up with the ingenious idea of a smiley face sponge to make cleaning seem more fun.

 

 

But before coming up with scrub daddy, after graduating in 1992, Aaron founded his first company, Dedication to Detail, Inc., in 1993. Aaron was so focused on growing his “first child” that he spent more than sixteen years in his first company before launching a second company, Ion Tech Wear.

 

 

The third time was the charm; in 2012, he launched his third company, Scrub Daddy, which has proven to be his most successful venture. Since its establishment, Aaron Krause has been and continues to be scrub daddy’s president and CEO.

Scrub Daddy Before Shark Tank

Scrub Daddy came into existence when Aaron Krause, still a detailer at the time, invented a line of buffing and polishing pads after he had damaged the exterior of a vehicle while cleaning its outside.

 

He also made sponges to clean hard-to-remove gunk from his hands while running his car wash business. In August 2008, that company was acquired by 3M, but they did not purchase the line of sponges Aaron had invented, which led to them sitting in his factory without use.

 

 

After five years of abandonment inside storage boxes, Aaron put the sponges to use. He used it to clean his furniture and some dishes. Surprisingly, the sponges were effective, and that was his eureka moment. He went on to found scrub daddy in 2012 with grassroots marketing.

 

Scrub Daddy appears on Shark Tank.

Aaron Krause appeared on the Shark Tank episode originally airing in October 2012. He was seeking $100,000 for a 10% stake in his company. It would be an understatement to say he smashed his presentation.

 

He sparked a bidding war between the sharks but, in the end, settled for Lori Greiner’s offer of $200,000 for a 20% stake in his company.

Aaron Krause and Lori
Lori Griener (left) and Aaron Krause (right)

Scrub Daddy after Shark tank

The following day, after airing on shark tank for approximately ten minutes, scrub daddy sold 42,000 sponges on QVC. That showcased the sky was the limit for Aaron Krause and Lori Greiner.

 

 

Lori Greiner has also helped sell Scrub Daddy in retail stores such as Walmart and Bed Bath & Beyond. The company has grown rapidly. And in January 2017, its total revenues surpassed $100 million, making it the highest of any Shark Tank product.

 

 

Based on how successful Scrub Daddy has been, Aaron Krause’s personal net worth is estimated to be $70 million.

 

Aaron Krause’s and Scrub Daddy’s story is truly one for the records. From a tiny car wash business to now one of the biggest US-based companies, he inspires many innovators and entrepreneurs.

 

Summary

Have you heard of the cleaning sponge called Scrub Daddy? It’s a reusable smiley-faced sponge that gained popularity after being pitched on Shark Tank by its creator, Aaron Krause.

 

Unlike most cleaning sponges made of cellulose, nylon, or polyester. Scrub Daddy is made of a polymer that changes texture when placed in water with different temperatures.

 

After Lori Greiner’s investment in Scrub Daddy, the company has grown exponentially.  And as of 2023, its net worth is estimated to be $209 million from sales revenue.

 

Aaron Krause is still the CEO of Scrub Daddy, his third successful venture after founding his first company, Dedication to Detail, Inc. The story of Scrub Daddy’s success is inspiring to many innovators and entrepreneurs.

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Scrub Daddy’s FAQs (Frequently Asked Questions) 

What makes Scrub Daddy unique?

Its texture-changing feature makes it a one-of-a-kind cleaning sponge; when placed in hot water, it becomes soft, absorbent, and firm in cold water.

 

Did Scrub Daddy succeed?

Yes, it is considered the second most successful company ever appearing on Shark Tank, after Bombas.

 

Who is the CEO of Scrub Daddy?

The founder and current CEO of Scrub Daddy is Aaron Krause. He is an accomplished entrepreneur and innovator.

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