Scrub Daddy is a company that makes cleaning tools. It is best known for making a sponge in the shape of a smiley face that goes by the same name. The product is made of a polymer that changes texture depending on how hot or cold the water is.
In the fourth season of Shark Tank, Aaron Krause pitched a cleaning product that would soon become one of the most successful products in the show’s history. After getting one Shark to come on board, the smiley face sponge has made hundreds of millions of dollars. Scrub Daddy’s net worth has gone through the roof since his videos went viral on TikTok.
Scrub Daddy made the most money out of all the products that were sold after being pitched on the ABC reality show Shark Tank. And, as of 2022, Scrub Daddy CEO Aaron Krause has a net worth of more than $70 million.
Read on to find out everything you need to know about Aaron Krause and how Scrub Daddy became so rich.
Aaron Krause’s Early Life And Career
Scrub Daddy is owned and started by Aaron Krause. He is a business owner and an inventor. He was born on February 1, 1969, in Wynnewood, Pennsylvania, to two doctors.
Aaron Krause says that his time as an undergraduate at Syracuse University helped him do well with Scrub Daddy. He got a Bachelor of Arts in psychology. But at first, he wasn’t sure if he should believe it. He found out later how important psychology is in business.
Aaron Krause has always thought of new ideas. He ran his own business washing cars. He wasn’t happy with the quality of the buffing and polishing pads on the market, so he made his own. 3M bought the rights to make and sell these polishing pads in 2008.
Aaron Krause And Scrub Daddy Net Worth In 2022?
Venturejolt says that Aaron Krause has a net worth of more than $70 million as of 2022. Lori Greiner, who invested in him on Shark Tank, is to thank for this. Not only does his company make him rich, but so does his fame. According to the website US Whispers, Scrub Daddy is worth an estimated $250 million.
Aaron made Sponge Daddy as a pad for auto mechanics to use to clean their hands. After he graduated from Syracuse University, he started a business washing cars, which is how he came up with this idea. But at first, he didn’t sell many because it was expensive and people didn’t think it was worth it.
Aaron later found out that it could be used to clean cars, the kitchen, and dishes. This made it useful. What makes Scrub Daddy so great? The smiley sponge is made of polymer, and its texture changes depending on how hot or cold the water is. After that, Aaron pitched it on the ABC reality show Shark Tank, season 4, episode 7. Lori Grenier liked it and put money into it. Aaron’s first offer was for $100,000 for a 10% stake in his business. After talking with the famous Shark Tank people, Lori offered $200,000 for a 20% stake and got the deal.
Since then, the product has been selling well in stores and on the Internet.
The Independent says that its CEO spends a lot of time reading TikTok comments and only sleeps “about three hours a night.” Already, there are 1.5 million people who follow the TikTok account and 32.1 million people who like it.