Scrub Daddy Net Worth

Looking for Scrub Daddy net worth and annual sales details for this year? Then it is important you know about this brand in detail. However, as a short answer, Scrub Daddy is estimated to have a $300-310 million net worth this year. You can read more about it below as you scroll the page. The journey of this brand is interesting as it appeared on Shark Tank and bagged a deal successfully. So be curious and read the entire information on its net worth and all other latest updates. 

Brief on Scrub Daddy

It’s one of the largest scrub provider companies in the USA to date. It manufactures cleaning tools like sponges, scrubbers, smiley face erasers, dispensers, etc. Aaron Krause founded this firm in 2012. He’s a serious inventor and entrepreneur, born on 1st February 1969. He’s from Pennsylvania, and both of his parents are doctors. 

What is Aaron Krause’s Net Worth?

He owns Scrub Daddy, and according to one of the online websites, his net worth in 2023 is $70 million. After the big win at Shark Tank, he has sold 20-25 million smiley-faced cleaning sponges. He and his team use TikTok a lot for marketing the brand. Over the years, with the success of the company and its campaign, Aaron has also got quite a lot of publicity and fame.

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Journey of the invention of Scrub Daddy

Aaron started a business related to car washes after he completed his graduation from Syracuse University. So he wanted to invent a product to properly clean the mechanic’s hand. But that product had no brand value as its target customers didn’t value it much back then. Most of the feedback received was that the hand washing pad was expensive. Thus, it couldn’t make the sales Aaron initially expected.

Before this pad, he invented buffing pads and wanted to sell them to 3M in 2008. Unfortunately, the company didn’t buy that product. This product later became useful in washing automobiles, dishes, and kitchen areas.

Scrub Daddy net worth 2023

Why is Scrub Daddy special?

The Scrub Daddy sponge is made of polymer and has a smiley face to resonate with the homemakers more frequently. The polymer makes the product hard in cold water and soft in warm water. Therefore, this item can easily change its texture depending on the water temperature used for washing. It saves a lot of operating or recurring costs for homemakers or even automobile owners.

Scrub Daddy and Shark Tank Episode

Aaron pitched Scrub Daddy networth in the Shark Tank Episode 7 of Season 4. Only one Shark showed interest, that’s Lori Greiner. Originally, Aaron pitched his proposal for a 10% stake in exchange for $100,000. However, after a series of discussions with the panel, Lori offered him $200,000 for a stake of 20%.

Aaron accepted that deal and made the product a successful brand as it is today. In 2014, Scrub Daddy also won the Most Successful Shark Tank product accolade.

After investing in the product, I know that Lori made a profit of $9+ million over the years. However, according to Caclubindia, Lori made a $12 million profit in total because of her increased valuation of the shares she holds in the company. Annually, she gets $1 million as dividend payouts per the same source.

Stats on Scrub Daddy Sales

The Scrub Daddy product started to make $209 million in sales in the years following the Lori Greiner’s investment deal. The company immediately sold 42,000 sponges within 7 minutes of the announcement of Lori’s investment on television.

However, within the same year, it made $30 million in sales. There is an estimation for Scrub Daddy to cross $80 million in sales in 2023 with the help of Amazon and Walmart as its two main distribution channels in the country. Scrub daddy net worth likely to cross $1 billion this year end.

Scrub Daddy is now selling its products in over 100 countries, stretching from Africa and Australia to America.

Scrub Daddy Net Worth Trend Over The Years

During my online research, I got the Scrub Daddy net worth data from 2018 to 2023. According to the data published by trusted sources, its net worth in 2018 was $185 million. By 2020, it was at $280 million. In 2022, it was $275 million; finally, in 2023, it’s estimated to cross $310 million or even more by the end of the year.

Scrub Daddy Evaluation

After the investment by Lori from Shark Tank, the brand took a giant leap in popularity and fame. You can determine the same way 42,000+ sponges were sold within 7 minutes of the telecast. The company hit $209-$210 million in revenue in 2019.

This company sells 160 products for cleaning and washing in 257,000+ locations in the USA. It is now among the top 5 Shark Tank companies garnering profits beyond expectations. The company, since its inception, has now expanded a lot. It now sells scouring pads, soap dispensers, organizers, household erasers, etc.

It has partnered with multiple retail or super stores like Walmart, QVC, Bed Bath & Beyond, etc.

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Awards for Scrub Daddy

One of the awards this brand garnered was “Product of the Year.” This was in the cleaning tools category. It has been featured in famous and world-renowned publications like Forbes and the NY Times.

FAQs on Scrub Daddy Net Worth

  1. 1. What is the Scrub Daddy CEO’s worth?

    Ans : It is between $60-80 million. However, the company’s net worth has crossed $300 million.

  2. 2. How much money did Scrub Daddy help Lori make?

    Ans : According to various online sources that I could find, Lori garnered $9+ million profit after investing in the Scrub Daddy product. However, now Lori’s share value is $60+ million in the company.

  3. 3. Who owns a 20% stake in Scrub Daddy?

    Ans : That is Lori Greiner. She is one of the Sharks from Shark Tank Season 4.

  4. 4. Can we call Scrub Daddy a successful company?

    Ans : Definitely. It already won an award for the most successful Shark Tank product in 2014. Scrub daddy net worth likely to cross 1 billion mark in 2023 and can be profitable this year.

  5. 5. Why is Scrub Daddy famous?

    Ans : Scrub Daddy is famous because of its eponymous sponge item. It is smiley-faced and can change its texture per the water temperature used for washing and cleaning. The brand got famously known because of Shark Tank Season 4 Episode 7, where its owner, Aaron, pitched the deal to Shark (Lori) and won a deal of $200,000 for a 20% stake.