If you’ve been watching Shark Tank, you may have seen the incredible story of Scrub Daddy. In 2012, inventor Aaron Krause appeared on the show and pitched a cleaning sponge that turned out to be one of its biggest success stories.
Scrub Daddy is a polymer sponge that changes its texture by becoming hard in cold water and soft in hot water. It’s shaped like a smiley face and has become the company’s best-selling product.
Its success has been attributed to the invention’s high quality and how it changed people’s lives. The sponge can also be used for a wide range of purposes.
The inventor of the sponge, Aaron Krause, originally launched the product as a pad for auto mechanics to clean their hands. But, once he realized its potential for household use, he turned it into a multi-purpose cleaning sponge.
Despite its initial rejection, the product is now a best-selling item and has earned Aaron Krause millions of dollars. With the help of Shark Tank investor Lori Greiner, the sponge has been sold to retail stores around the world and is currently ranked as the third-biggest provider of sponge products in America.
As of October 2019, the company is worth $209 million and has made over 110 million in retail sales. They also have plans to expand their business overseas.
The inventor and founder of Scrub Daddy, Aaron Krause, has an estimated net worth of $70 million. He has been able to compound his wealth thanks to the support of Lori Greiner, who invested a 20% stake in the company for $200,000 during a Shark Tank episode.
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