Scrub Daddy’s Net Worth: How Far The Shark Tank Company Has Come?

With a net worth to match, Scrub Daddy is one of the biggest success stories on Shark Tank. Aaron Krause, the founder and developer of the company, made an appearance in Shark Tank season 4, episode 7. The Scrub Daddy is a smiling face-shaped yellow sponge. Krause explains on the show that it’s much more than that, though. His invention is a very adaptable kitchen sponge that may be utilized in a variety of situations based on the water temperature and grip style.

With the sales figures to support his offer of $100,000 for 10% of the business, Krause presented his product, Scrub Daddy. After going on QVC, Krause informed the sharks he had made $100,000 in just four months. He requested the funds so he could take over the product’s production and make enough sponges to supply physical stores. After a bidding battle broke out, the victor contributed to Scrub Daddy being one of Shark Tank’s most popular goods.

Hundreds of Millions – Scrub Daddy Net Worth

Scrub Daddy has grown to be an extraordinarily prosperous business after making an appearance on Shark Tank. During a Shark Tank season 14 update segment in 2022, Krause talked about how the company had expanded since the episode, hiring 273 people, having 160 products, 257,000 retail locations, and making over $670 million in sales since the product debuted on the show in October 2012 (source: Shark Tank Global). It is a remarkable tale of success. Krause spent his Shark’s money exactly as he had planned. He relocated production from Germany to Pennsauken Township, New Jersey, and Chattanooga, Tennessee.

The company sold $220 million worth of goods in 2023 alone, and it appears that Krause may be preparing to sell (via Inc). Lori Greiner and Krause reportedly had discussions with JPMorgan Chase to figure out how investors could get their money back. The amount of the deal can reach the hundreds of millions.

Net Worth Of Scrub Daddy In 2023

The one who closed the transaction with Krause was Lori Greiner, dubbed the “Queen of QVC”. Lori felt the product was one of her “heroes” and that she was in a wonderful position to help Krause and Scrub Daddy break into the retail market, even though Daymond John sought to get in on the deal with her, and Kevin O’Leary was highly intrigued.

When the Sharks’ bidding war broke out, she increased her offer to $200,000 for a 25% stake from her initial $100,000 proposal. Krause then worked to reduce her ownership to 20%, and an agreement was reached. Depending on the terms of her contract, Greiner could have made tens of millions of dollars in 2023 alone—a hundred times her initial investment—with a 20% ownership stake.

Lori Greiner’s Investments Other Than Scrub Daddy

On Shark Tank, Lori Greiner has been a very successful shark. According to Lori Greiner, she has made investments in several profitable products that have generated over $1 billion in sales between them. Her website features more than fifty success stories, all of which have substantial sales figures. Under Lori’s magnificent umbrella are Squatty Potty, The Pizza Cupcake, Boarderie, Nana Hats, and many more. 

Scrub Daddy’s Net Worth In 2024

By 2024, the corporation should have a net worth of $310 million. For all of your cleaning requirements, Scrub Daddy provides a wide range of non-toxic, scratch-free products. Aaron Krause started the business in 2012. After its founder made an appearance in an episode of the reality television show Shark Tank, it gained recognition throughout the world in 2012. Before Shark Tank, Scrub Daddy’s net worth was significantly lower than it is now. Before the performance, the company was estimated to be worth $1 million. 

Lori Greiner and Aaron Krause agreed to a $200,000 20% equity investment throughout the program. Lori Greiner has a $150 million fortune. American jewelry designer Greiner also serves as a reality TV judge. She is an independent inventor and businesswoman who has produced more than 700 goods.