When Aaron Krause presented Scrub Daddy on Shark Tank, investors Mark Cuban, Robert Herjavec, Kevin O'Leary and Daymond John didn’t immediately see the vision for the sponge with a smile. But luckily, Lori Greiner saw a hero in Shark Tank’s season 4 episode 7 in October 2012. Fast forward to now, when a resurgence of cleaning videos occurred during the coronavirus pandemic, folks immediately reached for their Scrub Daddy — and many are now thanking Lori for what they call her smartest investment yet.
For many Scrub Daddy fans, TikTok was the first place they saw the product and its other assortment of products being tested, used and loved. Self-proclaimed Queen of Cleaning Vanesa Amaro has helped spread the word on the social media app. But the Scrub Daddy company’s history goes back more than a decade. When the product first appeared on Shark Tank, Scrub Daddy had only been sold in a handful of Philadelphia groceries stores and online. Aaron revealed that he was getting ready to launch in more stores and even gave the entrepreneurs a preview of what was to come — the Scrub Mommy.
In his pitch, Aaron demonstrated that his sponge’s polymer foam material turned hard in cold water and soft in warm water. This feature meant it could tackle messes on dishes, utensils, pans and even surfaces without leaving behind scratches. Although there was hesitancy at first to invest, a bargaining war ensued between Kevin, Daymond and Lori. Ultimately, Aaron teamed up with the Queen of QVC and the rest is history.
Halloween Edition Sponges (3 ct)
Halloween Edition Sponges (3 ct)
Today, TikTokers are still learning about how Scrub Daddy began. A quick scroll through the search page shows hundreds of videos sharing the company’s original Shark Tank pitch. “I didn’t know they were in Shark Tank. I buy them in Germany and they are great,” one person wrote. “It’s one of the best products [to] ever come out of Shark Tank,” another added. “It is such a good quality product. It deserves all the praise [to be honest],” a different fan said. “I didn’t get the hype until I bought one,” a follower commented.
Apart from the original Scrub Daddy, there are also a dozen other products, including Scrub Mommy, Sponge Daddy, Scour Daddy and Erase Daddy. What’s more, there are limited-edition sponge shapes and colors for different seasons and holidays. Despite Kevin arguing that $2.08 was too much to pay for a sponge, the original product now sells for about $4 at over 55+ different retailers online and in store.
In 2014, the 20/20 special Swimming with Sharks named Scrub Daddy the most successful Shark Tank product of all time. It was reported that the company had sold over 10 million units and made more than $50 million in sales in those two years. So, was it the best investment on Shark Tank? The masses say yes. While the most successful product title may now belong to Bombas socks (and the Ring Video Doorbell could have also earned the accolade if it wasn’t the one that got away!), Scrub Daddy is still a hero to many.
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FAQs
Ring. One of the most notorious (and successful) Shark Tank rejects started as a video doorbell name Doorbot. After a famously tepid reaction from the sharks, Amazon later bought the company for a deal worth nearly $1 billion. By early 2018, the company introduced a smart home doorbell dubbed Ring.
What is the #1 item from Shark Tank? ›
1. Bombas. Bombas, a sock company that now also makes bras and t-shirts, came to the minds of co-founders David Heath and Randy Goldberg when they learned that the number-one most-requested clothing item in homeless shelters was socks.
How much did Lori invest in Scrub Daddy? ›
According to Krause, this is when he "realized his multi-million dollar idea." According to the company's website, Scrub Daddy, Inc. was officially founded in 2012 with grassroots marketing. On the Shark Tank episode originally airing in October 2012, Lori Greiner made a 20% equity stake deal with Krause for $200,000.
Which Shark Tank investor has invested the most? ›
Mark Cuban has invested in 85 companies on Shark Tank, according to the website Sharkalytics, which tracks the investments on the business reality series.
Who turned down $30 million on Shark Tank? ›
Hanalei Swan, an 11-year-old prodigy, is one such remarkable individual who made headlines by turning down a staggering $30,000,000 investment offer on the hit TV show, Shark Tank. Hanalei's journey and her audacious decision to walk away from such a lucrative deal serve as an enduring source of inspiration.
Has anyone sold their entire company on Shark Tank? ›
Nevertheless, appearing on “Shark Tank” had benefits. Within a month of the show airing, the couple sold some $1 million worth of products. Then, in 2022, they sold their entire company. “We still owned 100 percent of it,” said Coddou, “which means that we got 100 percent of the purchase price.”
Does Shark Tank really pay? ›
It's important to note that while the sharks are paid to be on the show, the money they invest in the entrepreneurs' companies—if they choose to do so—is all their own. The money that Shark Tank investors offer is their own money and is not provided by the show.
What percentage of Bombas does Daymond John own? ›
Daymond John's Current Net Worth
Meanwhile, he has a 17.5 percent stake in Bombas Socks, which could be worth as much as $17.5 million given the company's current $100 million valuation.
How much has Lori Greiner made from Shark Tank? ›
We do know that she makes an estimated $1.1 million for a 22-episode season of Shark Tank and about $5 million per year from her retail business (the one she founded when she invented her very first product).
What is the #1 product in Shark Tank history? ›
With more than $225 million in lifetime sales, Bombas has generated the highest sales on "Shark Tank".
She is married to Dan Greiner.
What was the most profitable item on Shark Tank? ›
With more than $225 million in lifetime sales, Bombas has generated the highest sales on "Shark Tank".
What was the worst Shark Tank investment? ›
10 Failed Shark Tank Companies
- 1) ToyGaroo. What was ToyGaroo: “The Netflix for toys”, a subscription service allowing you to rent different toys every month. ...
- 2) ShowNo Towels. ...
- 3) Sweet Ballz. ...
- 4) Body Jac. ...
- 5) CATEapp. ...
- 6) Breathometer.
We do know that she makes an estimated $1.1 million for a 22-episode season of Shark Tank and about $5 million per year from her retail business (the one she founded when she invented her very first product).
