Scrub Daddy Net Worth 2022 – How Rich is Aaron Krause?

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Scrub Daddy is a company that makes cleaning supplies. It is best known for making a smiley-face-shaped sponge that goes by the same name.

The product is made of a polymer that changes its texture depending on how hot or cold the water is. As of 2019, Scrub Daddy made the most money of any product that was successfully pitched on the ABC reality show Shark Tank.

About the Founder

Aaron Krause is the owner of Scrub Daddy. He was born in Wynnewood, Pennsylvania, to two doctors. He started making things when he was young, and later he went to Syracuse University to study psychology.

After he graduated, he started a business washing car. This is where he first learned about how different cleaning materials work. He didn’t like the buffing pads that were on the market at the time, so he made his own.

He got a patent on his buffing pads, which became the main focus of his business. Krause also made the tools he needed to make his new product, and he sold his car wash business soon after.

Establishing Scrub Daddy

The aspiring businessman made his own cleaning products for the machines he used to make things. He got a foam made just for him in Germany.

He cut it into a circle with two holes and ridges so he could hold it better. This is how the smiley face sponge came to be.

scrub daddy net worth

In 2008, 3M, the biggest company in the world that makes things, bought Krause’s company that made buffing pads. But the famous sponge he was known for wasn’t part of the deal. Because of this,

After three years, he found out that his sponge could get harder in cold water and softer in hot water. Scrub Daddy went on sale for real in 2022, and Aaron showed it off on the home shopping network QVC.

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Shark Tank Appearance

Krause’s time at QVC was very successful, as he often sold out of all of his units. But he knew that his new business wasn’t living up to its full potential. After he and his wife watched Shark Tank, he thought it would be a good idea to get a strategic partner to help him move into retail. During the pitch, he was only in five grocery stores.

In season four, he showed up and asked for $100,000 for a 10% share of his company. Aaron gave a very lively presentation that caught the Sharks’ attention. Kevin O’Leary started the bidding war by offering $100,000 for 50% of the company, but Aaron said no right away.

Daymond John wanted to make a deal with Lori Greiner, who is known as the “Queen of QVC.” Lori, on the other hand, wanted to go by herself since she didn’t need Daymond. In the end, Lori offered $200,000 for 20%, which Aaron Krause gladly took.

scrub daddy net worth

After Shark Tank

When Krause’s episode of Shark Tank aired, he sold 42,000 sponges in less than seven minutes the next day. Lori Greiner also helped get the brand of cleaning tools into all the big stores in the US.

In January 2017, Scrub Daddy made more than $100 million in sales. By October 2019, the company had made $209 million in total sales. In 2021, sales grew by 80% from the previous year, and in 2022, the company will make more than $100 million. Based on this prediction, the total amount of money made should be more than $300 million by the end of the year.

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They now sell more than 20 different things. To keep up with demand, he also increased production by doubling the size of the factory’s headquarters, which is now 80,000 square feet. Aaron and his team use TikTok to spread the word about their products right now.

Scrub Daddy is now thought to be the third-largest sponge company in the United States. Aaron Krause’s personal net worth is now $70 million, and Scrub Daddy is worth about $150 million, according to estimates.

Scrub Daddy’s Net Worth

You may have heard of Scrub Daddy because it quickly became a household name in the cleaning products business.

Aaron Krause, the company’s founder, and CEO pitched Scrub Daddy on the American reality TV show Shark Tank. Since then, Scrub daddy’s wealth has grown to around $200 million. Let’s learn more about the company that started out small but is now worth a lot of money.

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Frequently Asked Questions

The product is made of a polymer that changes texture – firm in cold water and soft in warm water. As of 2019, Scrub Daddy had the highest revenue of any product successfully pitched on the ABC reality show Shark Tank.
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