Scrub Daddy’s net worth: What is Scrub Daddy inventor Aaron Krause’s net worth?
Scrub Daddy is the third-biggest sponge provider in America. The company provides cleaning tools like smiley face erasers, sink dispensers, scrubbers, sponges, and accessories. Scrub Daddy was founded by Aaron Krause in 2012. What is Scrub Daddy's net worth? Discover the worth of the company and that of its founder, Aaron Krause.
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TABLE OF CONTENTS
Scrub Daddy products are constructed of a polymer that changes texture with temperature, becoming stiff in cold water and mushy in warm water. It generated the most revenue of any item successfully presented on the ABC reality television programme Shark Tank in 2019. Discover Scrub Daddy’s net worth today.
Scrub Daddy's profile
| Net worth | $310 million |
| Sales revenue | $82 million |
| Profits | $20 million |
| Lori Greiner's investment | $200,000 |
| Lori Greiner's share value | $60 million |
| Shark Tank episode | Season 4, Episode 7 |
All you should know about Scrub Daddy’s net worth
Scrub Daddy is a multimillion-dollar company. Many people have wondered how much the company is worth in 2024. Find out more today.
Scrub Daddy's net worth in 2024
The company's net worth is estimated at $310 million as of 2024. Scrub Daddy offers an extensive variety of non-toxic, scratch-free products for all cleaning needs.
The company was founded by Aaron Krause in 2012. It got international recognition in 2012 after its founder appeared in an episode of the reality television programme Shark Tank.
Scrub Daddy's net worth before Shark Tank was not as much as it is today. The company was valued at about $1 million before the show.
During the episode, Lori Greiner agreed to a 20% equity investment of $200,000 with Aaron Krause. Lori Greiner's net worth is $150 million.
Greiner is an American jewellery designer and reality television judge. She is a self-made inventor and entrepreneur who has created over 700 products.
Scrub Daddy's sales after Shark Tank
Scrub Daddy's net worth after Shark Tank soared significantly because the company made insane sales after appearing on the show. The day after Scrub Daddy's owner, Aaron Krause, and Lori Greiner made a deal, both parties sold out 42,000 Scrub Daddy sponges on QVC in less than seven minutes.
Lori assisted in selling the products in various retail outlets, including Home Depot, Walmart, and Meijer. Scrub Daddy grew into a multimillion-dollar company, selling its goods at retail outlets nationwide. It set a record for the most significant revenue of any item successfully introduced on Shark Tank.
Scrub Daddy's progression
By the beginning of 2017, Scrub Daddy's revenue had topped $100 million, the greatest for any venture featured on Shark Tank.
Five years afterwards, in a chapter of the 14th season of the programme, it was discovered that the company had generated over $670 million in selling at retail since its debut. The table below shows Scrub Daddy's net worth trend over the years.
| 2023 | $310 million |
| 2022 | $275 million |
| 2021 | $230 million |
| 2020 | $280 million |
| 2019 | $240 million |
| 2018 | $185 million |
Who is Scrub Daddy's owner?
Aaron Krause is the founder and owner of Scrub Daddy. Krause is a successful businessman and inventor with over 20 years of expertise in patenting and producing cutting-edge technologies.
He was born on 1 February 1969 in Wynnewood, Pennsylvania, United States. Aaron Krause's age is 55 years as of 2024. He attended Syracuse University and graduated with a Bachelor of Science in Psychology in 1992.
What is Aaron Krause's net worth?
Many people know Aaron Krause as Scrub Daddy on Shark Tank. His net worth is estimated at $100 million. He earns his income through his business and invention career.
Lori Greiner’s investments
Lori Greiner agreed to a 20% equity investment of $200,000 with Aaron Krause. Initially, she proposed $100,000 for 30%. When the Sharks' bidding war started, she upped her offer to $200,000 for a 25% stake.
Krause negotiated her stake down to 20%, and the two struck a deal. With her 20% ownership stake, Greiner may have earned tens of millions, about 100 times her initial investment.
Lori Greiner has also invested in other successful products which have collectively done over $1 billion in sales. She has over 50 success stories on her website.
Some of the businesses she has invested in are The Pizza Cupcake, Boarderie, and Nana Hats. Lori talked on The Ellen Show about the four things she looks for before deciding to invest in a product.
I look for, is it something people need and want? Is it something that could be made at an affordable price? Does it have a broad, mass audience? ... the broader the better. And does it solve a problem? If it does those four things, and the gut goes off, then I watch the person 'cause if it's not a good partner, I'm not gonna do it.
Scrub Daddy's inventions and success
Aaron Krause previously owned a worldwide buffing pad and automobile detailing business that he launched after graduating from university.
The time he spent maintaining machinery left him with filthy hands, which were a continuous annoyance. Circumstances forced him to use GOJO, an abrasive ointment, to clean his hands.
This prompted him to look for a better solution. He embarked on a mission to build a more pleasant means of washing his hands, drawing on his decade-plus expertise in creating urethane foam buffing pads.
In 2007, he designed and patented an extremely sophisticated polymer foam hand scrubber with a groove on one side and two holes cut out of the centre.
Initially, some people thought the product was unnecessary and overpriced, so they opposed it. As a result, Krause put the project on hold, consigning the scrubbers to his garage. Meanwhile, his buffing pad business was bought out by the international conglomerate 3M.
In 2011, he retrieved his previously abandoned foam scrubbers from his garage. He used them to wash his lawn furniture and dishes. He realised he had a profitable product on his hands when everything came out flawless and unscratched.
Krause decided to include a smiley mouth in the scrubbers, which opened the door for another invention. He then launched a grassroots marketing effort for the product, culminating in a published story in the Philadelphia Inquirer.
The story piqued the interest of a private broker, who booked the goods on QVC. Scrub Daddy was formally launched in 2012 and featured on four additional QVC shows.
Since the initial Scrub Daddy sponge, the company has created several other products, totalling more than 20. These include erasers, scouring pads, soap dispensers, cream cleaners, sink organisers, and dual-sided sponges. Scrub Daddy sponges come in various colours and forms, including seasonal shapes like pumpkins and snowflakes.
FAQs
- What is Scrub Daddy made from? It is made of FlexTexture, a finely designed polymer foam.
- What is the net worth of Scrub Daddy? The company's net worth is estimated at $310 million as of 2023.
- How much is the Scrub Daddy owner worth? Scrub Daddy's owner, Aaron Krause, has an estimated net worth of $100 million as of 2024.
- Is Scrub Daddy a multi-million dollar company? Yes, it is. The company has an estimated net worth of $310 million.
- How long do Scrub Daddies last? This product has an average lifespan of two weeks, but this figure will vary based on the user's usage.
- Is Scrub Daddy toxic? It is non-toxic but has not been evaluated for human consumption.
- How do you change the texture of your Scrub Daddy? You only require tap water. In cold water, FlexTexture is stiff. It is stiff in warm water.
- How much does Lori own of Scrub Daddy? Lori Greiner invested $200,000 for 20% of the company.
- Who is the CEO of Scrub Daddy? Aaron Krause is the president & CEO of Scrub Daddy, Inc.
- How much has Scrub Daddy made since Shark Tank? Since appearing on Shark Tank, Scrub Daddy has gone on to be a remarkably successful company. The company has made hundreds of millions of dollars in sales.
Scrub Daddy's net worth has skyrocketed over the years because the company offers quality products. The success of the company is partly because of Aaron Krause's appearance on Shark Tank.
Yen.com.gh recently published Timbaland's net worth. Timbaland is a successful record producer, rapper, and singer best known for his innovative music production and distinctive "stuttering" rhythmic style.
Timbaland's net worth has improved over time thanks to his success and long career in the music industry. He has enjoyed commercial success by producing songs for renowned artists, including Ginuwine, Aaliyah, Missy Elliott, and Justin Timberlake.
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