Aaron Krause created a smiling sponge, that he says can clean any surface better than other premium sponges. Will he scrub up a deal on
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 the tank with enthusiasm and energy, demonstrating the usefulness of his product, the Scrub Daddy. The sharks were impressed with his presentation, and Daymond John even called it a “live infomercial.”
Temperature Controlled Scrub - 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. With FlexTexture, you have the right tool for every mess.
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 misspoke. 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 tank, 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!
Our Scrub Daddy update is surely one for the record books! Lori helped Aaron roll his product into thousands of stores, and 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 exceed $300 million, and Aaron himself is worth an estimated $70 million. Overall, Scrub Daddy is one of the most successful
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Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!