Scrub Daddy is one ofShark Tank’s biggest success stories, and the Scrub Daddy net worth proves it. It appeared inShark Tankseason 4, episode 7, presented by the product’s inventor and the company’s owner and founder, Aaron Krause. The Scrub Daddy is a yellow sponge in the shape of a smiley face. But it’s much more than that, as Krause presents on the show.His product is a particularly flexible kitchen spongethat suits different needs depending on how it’s gripped and what temperature of water it’s used in.
Krause came in with an ask of $100,000 for 10% of the company, and hisScrub Daddy product had the sales to back it up. Krause told the sharks he made $100,000 in four months after appearing on QVC. He asked for the money to take over the product’s manufacturing and produce more sponges to supply brick-and-mortar. A bidding war broke out and the winner helped make Scrub Daddy one ofShark Tank’s most successful products.
Scrub Daddy’s Net Worth Is Hundreds Of Millions
Scrub Daddy Has Nearly $700 Million In Sales
Since appearing onShark Tank, Scrub Daddy has gone on to be a remarkably successful company. In a season 14 update segment ofShark Tankin 2022, Krause discussed that since the episode, the company has grown to include 273 employees, 160 products, 257,000 retail locations, andhas done over $670 million in sales since October 2012when the product premiered on the show (viaShark Tank Global). It’s an incredible success story. Krause used his Shark’s money just as intended. He moved manufacturing from Germany to Chattanooga, Tennessee, and Pennsauken Township, New Jersey.
In 2023 alone,the company sold $220 million worth of products, and it looks like Krause could be gearing up to sell (viaInc). According to reports, Lori Greiner and Krause have been in talks with JPMorgan Chase to determine how investors could cash out. The sale could be in the hundreds of millions of dollars.
Lori Greiner Made At Least 100 Times More Than Her Investment From Scrub Daddy
Greiner Invested $200,000 For 20% Of The Company
It was Lori Greiner, the “Queen of QVC” who got the deal from Krause. Though Kevin O’Leary was very interested and Daymond John tried to get in on the deal with her, Lori immediately knew the product was one of her “heroes” and also knew that she was perfectly positioned to help Krause and Scrub Daddy get into retail.
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She proposed $100,000 for 30%, but she upped her offer to $200,000 for a 25% stake when the Sharks' bidding war started. Krause then negotiated her stake down to 20%, and a deal was struck. With a 20% ownership stake, depending on what her contract looks like,Greiner may have earned tens of millions in 2023 alone, 100x her initial investment.
Lori Greiner’s Other Successful Shark Tank Investments
Greiner’s Companies Have Collectively Sold Over $1 Billion
Lori Greiner isa particularly successful Shark onShark Tank. She’s invested in a number of successful products which have collectively done over $1 billion in sales (viaLoriGreiner).There are over 50 success stories on her website, each with significant sales numbers. Squatty Potty, The Pizza Cupcake, Boarderie, Nana Hats, and much more are all under Lori’s impressive umbrella.
$200,000 for 20%
$690 million since 2012
$900,000 for 20%
$222 million since 2014
$125,000 for 12.5% equity and 2.5% in advisory shares
$2.7 million since 2021
$300,000 for 9%
$70 million since 2022
When it comes to determining which product will succeed, Lori talked onThe Ellen Showabout the four things she looks for,
“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.”
It’s great advice and a reason Lori’s been so successful onShark Tank.
The Other Most Successful Shark Tank Products
Squatty Potty, Bombas, & Ring
Scrub Daddy is the third most successfulShark Tankproduct. However, this does not mean there are not other success stories on an even bigger scale. There is even a massive success story for a product the Sharks passed on.
For Lori Greiner, the second most successful company she invested in was Squatty Potty. This bathroom product sits at the base of a toilet, and a person places their feet on it while going to the restroom. This relieves unnecessary muscle strain while sitting on the toilet and offers more comfort and better health for a person’s colon. It struck a nerve in viewers, and afterGrenier invested $300,000 for a 10% share, it has sold over $222 million in products since 2014.
Bombas now has $1.3 billion in lifetime sales.
Bombas is the most successful product ever appearing onShark Tank, though. This company sells comfort socks and T-shirts while donating money to the homeless from each sale. Daymond John invested $200,000 for a 17.5% stake, which has paid off drastically. Bombas now has $1.3 billion in lifetime sales. Second to Bombas is Everlywell, which offers at-home medical tests. That company has $1.1 billion in sales.
While these are success stories for the Sharks, they have also missed some over their time onShark Tank. There was one product that everyone passed on. In 2013, Jamie Siminoff introduced his product, DoorBot. This was a doorbell camera, and the Sharks didn’t see a future for it. They all said no, so Siminoff just kept working on it himself. He eventually changed its name to Ring, and it became a monster success. Five years after hisShark Tankrejection, Siminoff sold Ring to Amazon for $1 billion.
Shark Tank
Cast
Several successful investors and financial moguls sit in on pitches from professional and amateur American entrepreneurs in Shark Tank. This reality television series sees a group of five “sharks” who give hopeful people with a dream a chance to secure funding and support from some of the most well-known figures in the business world. Products and services come from all over as the sharks judge and try to determine if the pitches are investable.
