Aaron Krause, an entrepreneur, and inventor, founder of The Scrub Daddy. In 1992, Aaron graduated from Syracuse University with a BA in Psychology.
In the succeeding year, he founded his first business, Dedication to Detail, Inc. He worked at the organization for nearly sixteen years before starting his second venture, Ion Tech Wear.
Scrub Daddy was his third and best profitable business. Aaron Krause has served as CEO and President since May 2012.
History of Scrub Daddy
In 2006, Aaron Krause came up with the innovative idea of a washing sponge. He came up with the idea for the Scrub Daddy sponge while washing the car. He previously had a small car wash business in the 1990s.
One good day when he was using that polymer foam while washing the dishes and cleaning the furniture. He realized that the foam he was using changed texture based on the temperature of the water, and thought it could be applied to cleaning sponges.
Aaron Krause spent the next few years refining and sanitizing the idea. Finally, he decided to use a unique polymer foam.
This foam had many advantages over traditional sponges, including being more durable, flexible, and effective at removing stubborn stains. He applied for a patent in 2010.
The most difficult part of the process was bringing Scrub Daddy to market. Aaron Krause was frustrated and wanted to leave, but one of his close friends helped him by allowing him to keep his product in his 5 retail stores.
Gradually, Scrub Daddy began to sell in the market and even appeared three times on QVC. Before joining Shark, he had nearly $100,000 in sales.
However, Krause wanted it to be a mass product, this could only happen if he could promote the product. Advertising and marketing take a lot of money and he didn’t do that. He appeared in an American television show. Krause’s big break began after the Shark’s Episode.
Scrub Daddy’s Appearance on Shark Tank
In 2012, Aaron Krause took part in the US TV show Shark Tank to get funding for his start-up.
He was able to secure an investment from Lori Greiner, who saw the potential in the product and helped Krause turn it into a successful business.
After this episode, sales of Scrub Daddy skyrocketed and it became an instant hit. Over 40,000 mushrooms were sold in less than 7 minutes.
The product has even been featured on popular TV shows like Good Morning America and The View.
Today, the company has over $200 million in sales and has become almost a household name and is sold in every major retailer in the United States.
Scrub Daddy has even expanded its range with other innovative cleaning products such as the Scrub Mommy sponge, Scrub Daddy Power Pad, and Scrub Daddy Flex Texture sponge.
Before Shark Tank, scrub dad status:
The story of Aaron Krause is one of the most famous start-ups. In the 1990s, he started a small car wash business that grew into a large US-based company that sells car polishing pads worldwide.
Aaron Krause made his line of polishing and shining pads after damaging his car while cleaning it. In August 2008, the company was purchased by 3M, a global conglomerate. 3M decided not to buy Krause’s mushroom ideas and instead let them stay with his company.
Five years later, when Krause learned that temperature changed how hard the mushrooms were, he began using the remains of the fungus to clean dishes and garden furniture.
In one of his interviews, he said: “That’s when I realized that foam reinforcements change with temperature, softening in warm water and hardening in cold water.” After that, Krause decided to put his experience to better use by signing up for the fourth season of Shark Tank.
What is Scrub Daddy’s Net Worth in 2023?
Scrub Daddy has an estimated net worth of more than $250 million in 2023. In 2019, it achieved sales worth more than $200 million.
Net worth can fluctuate due to various factors such as company performance, investments, and other financial activities. In fact, in 2020, Scrub Daddy experienced a 40 percent spike in sales as the COVID-19 pandemic forced people to spend more time at home and focus on cleaning.
What is Scrub Daddy’s Net Worth in 2022?
Scrub Daddy reached a total value of $250 million in 2022. Scrub Daddy has made more than $200 million since Greiner paid $200,000 for a 20% stake in the company in 2012.
What is Scrub Daddy’s Net Worth in 2021?
An analysis of the Shark Tank report found that Scrub Daddy’s net worth is $212 million in 2021. This product has grown a lot in 2021. It sold for $209 million for the first time since its inception on the Shark Tank show. This product sells on Amazon for around $9.99.