Aaron Krause is a renowned businessman and innovator with more than 20 years of experience creating ground-breaking technology and obtaining patents. Krause takes great pride in his work ethic, dedication, and originality, and his patented products are sold by prestigious big-box retailers like 3M Company.
Krause, a psychology graduate from Syracuse University, also plays and coaches ice hockey In Voorhees Township, New Jersey. He routinely travels the globe as part of his managerial duties, but he still has time to advise budding business entrepreneurs. He has a beautiful wife, Stephanie, and his two kids, Bryce, and Sophie.
Krause’s ideas have also garnered recognition and have been featured in The Philadelphia Inquirer, Good Morning America, Anderson Cooper 360, New York Live, and ABC’s Shark Tank.
And of other media outlets. Krause is also launching four more businesses.
Aaron Krause Net Worth
Aaron Krause founded the cleaning sponge business Scrub Daddy, considered one of the most successful ventures on Shark Tank. The multipurpose polymer sponge with a happy face is its best-selling item. Scrub Daddy’s estimated net worth as of 2022 is $150 million, and he is on pace to earn more than $100 million this year.
Today, Scrub Daddy is regarded as America’s third-largest sponge supplier. With this, Scrub Daddy’s estimated worth is $150 million, and Aaron Krause’s net worth is $70 million.
Aaron Krause: Founder of Scrub Daddy
Aaron Krause is the founder and the current chief executive officer of the company, who often describes himself as scrub Daddy, Daddy’s. He founded the company in 2012 with a grassroots level of marketing.
Krause developed his line of buffing and polishing pads after accidentally harming a vehicle exterior. At that time (August 2008), the business was acquired by 3M, who wasn’t interested in buying the line of sponges invented by Krause.
He then left the sponges in the factory, but after five years, when he was cleaning his outdoor furniture with a traditional sponge, he, unfortunately, scratched the paint. Then he tried to use his invented scrubbing foam, which works incredibly well, and at that point, he realized his multi-million-dollar idea.
Scrub Daddy – America’s Favorite Sponge
Scrub Daddy is a company that offers a wide variety of sponges made from unique material and in the shape of a smiley face so that you can clean the most challenging mark from the kitchen to dust and dirt in your house in no time.
Scrub Daddy has become a favorite sponge among people over time. It isn’t any ordinary sponge; Scrub Daddy sponges are made from a unique material, Polymer (Flex Texture), which changes its texture based on water, and temperature –firm, hard in cold water, and becomes soft in warm water.
This unique duo quality makes Scrub Daddy Sponges a harder scrub as well as a soft sponge. Scrub Daddy offers scratch-free and non-toxic products that fit all your cleaning needs.
Scrub Daddy also has a wide variety of products: smiling scrubs, sponges, erasers, and scouring.; They also have special editions, including Halloween shapes, sponges, cat shapes, and Dog shapes. Furthermore, they have other household organizations and accessories that encompass Screen Daddy colors, Cart Daddy, Daddy Candy, and Soap Daddy.
Shark Tank Appearance
On Shark Tank, Krause pitched the idea and explained his product Scrub Daddy. Krause sought $100,000 in exchange for 10% equity. Lori Greiner gambled and agreed to a $200,000 business deal in return for 20% equity in Scrub Daddy.
On QVC the next day, Greiner and Krause sold all 42,000 sponges in less than seven minutes. Lori, “The Queen of QVC,” subsequently assisted in getting Scrub Daddy offered in retail establishments, including Bed, Bath & Beyond, Walmart, and Target.
What happened to Scrub Daddy After Shark Tank Deal?
In less than seven minutes the day after Krause’s Shark Tank episode aired, he sold 42,000 sponges. The cleaning equipment company also entered all the significant retail establishments around the country, thanks to Lori Greiner.
By October 2019, lifetime sales for Scrub Daddy reached $209 million. In January 2017, the company generated over $100 million in revenue. The company’s revenue increased by 80% over the year in 2021, and in 2022 it will generate more than $100 million.
By the end of the year, lifetime sales should have surpassed $300 million, according to this prediction. The company has also 20 more products to their business after the appearance on Shark Tank and is spending to expand their company further.