Scrub Daddy Sponge Update | Season 4
Entrepreneur Aaron Krause pitched his sponge company during
If you’re short on time, here’s a quick overview of what happened to Scrub Daddy after
Aaron Krause appeared on
Shark: | Result: |
Lori Greiner | Accepted deal for $200,000 for 20% equity |
Kevin O’Leary | $100,000 and a $0.50 royalty until the investment is recouped. Then, the royalty drops to $0.10 in perpetuity |
Daymond John | No offer |
Robert Herjavec | No offer |
Mark Cuban | No offer |
Shark Tank Scrub Daddy Update
- Entrepreneur: Aaron Krause
- Business: Innovative smiling sponge
- Ask: $100,000 for 10% equity
- Result: $200,000 for 20% equity
- Shark: Lori Greiner
Aaron entered
With Scrub Daddy, unlike so many common kitchen sponge and dish scrubber products, you control your scrubbing power! Scrub Daddy’s FlexTexture foam is firm in cold water for tough scrubbing and soft in warm water for light cleaning.
Right away, Lori Greiner wanted to know where Aaron had sold Scrub Daddy, only to find that it was available in just five Philadelphia supermarkets, but had sold on three separate occasions on QVC. He also shared that he held one patent, two patents pending, a domain name for Scrub Daddy, and the trademark as well.
Robert Herjavec and Daymond were unsure if they could see the Scrub Daddy selling in a retail environment. Robert quickly went out, with Mark Cuban following out behind him.
Kevin O’Leary wanted in, however, offering $100,000 for 50% equity. Aaron laughed it off, jokingly saying “you’re out” to Mr. Wonderful.
Daymond spoke next, offering Aaron $50,000 for 15% equity if Lori would go in for another $50,000 and 15% equity. Lori told Aaron that she could tell instantly if a product is “a hero or a zero” and that Scrub Daddy “is a hero.”
With that, she told Daymond she doesn’t need him, and that she would give Aaron the $100,000 but for 30% equity. Kevin, realizing his 50% ask was absurd, switched the format of his deal and tried the classic Mr. Wonderful royalty tactic.
He restructured his offer to give the $100,000 in exchange for no equity, but he wanted a $0.50 royalty for every unit sold. Once he recouped his $100,000 at which time he’d receive only $0.10 for every unit sold in perpetuity.
At this point, the sharks went wild. Daymond threw out $150,000 in exchange for 25% to undercut Lori, and Lori stayed at $100,000 but also dropped her equity.
When things got a little too heated between the sharks, Robert decided to give a recap of the offers.
Hearing this, Lori said that she intended to offer $150,000 to match Daymond’s offer, but must have misspoken. Daymond bid higher and offered $175,000 in exchange for 25% equity.
Lori one-upped him by offering $200,000. Remarkably, all this happened without a word from Aaron.
Suddenly, Daymond went out of the deal, stating that he made Aaron an extra $100,000, just because he wanted to stick it to Lori. Then, Kevin and Aaron continued to go back and forth with negotiations, which seemed to insult Lori.
She told Aaron that if didn’t accept her offer right now, then she’d go out. Aaron replied that if she would go down to 20%, then he would make the deal right there. Lori agreed, and the deal was made!
Avid
Our Scrub Daddy update is surely one for the record books! Lori eventually helped Aaron roll his product into thousands of stores. Then, with her help, the Scrub Daddy was featured on QVC again and again, selling out every time!
By 2016, lifetime sales were more than $75 million, and in 2017, they skyrocketed above $150 million. This earned Scrub Daddy the title of the most successful
By 2020, Scrub Daddy relinquished that title to Bombas, but maintained second-place status boasting lifetime sales of $268 million, versus Bombas’s $330 million. As of 2022, Scrub Daddy’s lifetime sales exceeded $300 million, and Aaron himself was worth an estimated $70 million.
Today, lifetime sales have now reached an unbelievable amount of $926 million, bringing in an average of $80 million annually. Overall, Scrub Daddy is one of the most successful
If you don’t already own a Scrub Daddy of your own, you can grab one on Amazon, or on the Scrub Daddy website.
Would you like to learn about the other companies featured on Season 4 Episode 7? Follow the links below!
For even more on companies and products, be sure to stop by our Season 4 Products Page!
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!