Looking for a scrubber that can tackle tough messes without damaging your surfaces? Meet Scrub Daddy, the smiling, high-tech sponge that became an instant sensation after appearing on “Shark Tank.”
Made of a patented, scratch-free material that adjusts to water temperature, Scrub Daddy can scrub away dirt and grime on everything from non-stick cookware to car rims. But that’s not all – it also rinses clean in seconds and lasts longer than traditional sponges, making it the ultimate kitchen and cleaning companion. Get ready to smile while you scrub with Scrub Daddy, the lovable and effective solution to all your cleaning needs!
Scrub Daddy is a cleaning tools company founded in 2012 by Aaron Krause who was a detailer by profession. It is best known for a sponge that it manufactures, also called Scrub Daddy, that is in the shape of a smiley face. The sponge is made of a polymer that changes texture. It becomes soft in hot water and hard in cold water.
Scrub Daddy at a glance:
|EPISODE NO||Season 4 Episode 7|
|BUSINESS IDEA||A smiley-face sponge that changes texture in different temperatures.|
|ASKED FOR||$100,000 For 10% at $1 million valuations on Shark Tank|
|ACCEPTED OFFER||$200,000 For 20%|
|BUSINESS STATUS||In Business|
|BUY ON AMAZON||Buy Now!|
How Scrub Daddy was started?
Aaron Krause’s story is one of the prominent beginnings, starting in the 90s with a small car-washing business that grew into a sizeable US-based company selling car buffing pads all over the world. Aaron Krause invented his own line of buffing and polishing pads after damaging the car while cleaning.
The company was acquired by 3M, an American multinational conglomerate corporation in August 2008. 3M did not purchase any of the sponges Krause had invented, leaving them back in his factory. Five years later, Krause used the remaining sponges to clean his dishes and lawn furniture only when he came to discover the change of stiffness based on temperature. “They worked so unbelievably well I took one inside to wash the dishes.
It was then I realized the stiffeners in the foam changed with the temperature of the water, becoming soft in warm and hard in cold water” he stated in one of his interviews. Krause then figured that experience could be better used elsewhere and applied for season four of the American reality business show Shark Tank.
Did Shark Tank turn down Scrub Daddy?
In October 2012, on the Shark Tank episode, investor Lori Greiner is also known as the “Queen of QVC” made a 20% equity stake deal with Krause for $200,000. The very next day, Greiner and Krause sold out of 42,000 sponges in under seven minutes on the QVC television network. Greiner then helped Scrub Daddy to be sold in retail stores such as Bed, Bath & Beyond
What Happened to Scrub Daddy After Shark Tank?
In January 2017, Scrub Daddy’s total revenues surpassed $100 million it was the highest of any Shark Tank product. As of February 2020, the company has moved 10 million units for total sales of more than $50 million since the pitch.
Based on the company’s exceeding revenue model and business statistics, the company is valued at $209 million as of October 2019. Over the past three years, Scrub Daddy has brought in a total of $75 million in revenue, according to investor Lori Greiner.
In the future, the company has planned to manufacture and launch more products like screen cleaners, sponge Caddies, seasonal colors, and many more. They are also working towards presenting their products in every major US retailer including several internationally.
They are planning on expanding their headquarters. To do so, they purchased the adjacent building which in turn doubled their footprint to 80,000 sq. feet. To compare, the company first operated within 5,000 sq. ft.
Who are the Competitors of Scrub Daddy?
Scrub Daddy’s top 14 competitors are Scotch-Brite, Sosclorox, Clean Up, Vileda, American Cleaning Solutions, Clorox, Ecover, Shagun cleaning’, Ecolab, Eastman Chemical Co, S.C. Johnson, ADM, Dolphin Mops, and Metro Time Industries.
Scrub Daddy’s revenue is ranked 5th among its top 10 competitors. The top 10 competitors average 8 billion. Scrub Daddy has 152 employees and is ranked 7th among its top 10 competitors.
How much is Scrub Daddy worth now?
At the time of the shark tank appearance, Scrub Daddy was valued at around $1 million. The company is valued at $209 million as of October 2019 and still growing.
The company has experienced tremendous success since appearing on “Shark Tank” in 2012, with sales exceeding $209 million and products being sold in major retailers across the United States and other countries. The Scrub Daddy brand has expanded to include various cleaning products, and the company continues to innovate and expand its offerings to meet consumer demand.
Scrub Daddy has become a great cleaning industry in America and is still extending its services in many parts of the world. On winding up let’s quickly grasp some of the interesting facts about the company.
Interesting Facts about Scrub Daddy:
- Using its unique shape, you can use Scrub Daddy’s smiling face to easily clean silverware or cups.
- Unlike most sponges you’d find at your grocery store, the Scrub Daddy is odor-free and washes off clean, so you won’t have remnants of what you’ve cleaned all over it.
- The cleaning process with Scrub Daddy is made simple by just adding a little amount of warm water and a super clean and gleaming product.
- Scrub Daddy products are latex-free and BPA-free.
- It is lab-tested that the products do not hold odor for up to 8 weeks under normal conditions.
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What is Scrub Daddy?
How much is Scrub Daddy worth now?
As of 2012 at the time of their Shark Tank appearance, they were valued at around 1$ million. The company is valued at $209 million as of October 2019 and still growing.