Scrub Daddy

Founded 2012
Founder Aaron Krause
Products Sponges
Website scrubdaddy.com

Scrub Daddy is a company best known for a sponge that it manufactures, also called Scrub Daddy, that is in the shape of a smiley face. The product is made of a polymer which changes texture - soft in hot water, hard in cold water.[1] As of 2016 Scrub Daddy had the highest revenue of any product successfully pitched on the ABC reality show Shark Tank.[2]

History

After damaging a car, detailer Aaron Krause invented his own line of buffing and polishing pads. The company was acquired by 3M in August 2008. 3M did not purchase a line of sponges Krause had invented, leaving them to sit in his factory. Five years later, Krause used the remaining sponges to clean his dishes and lawn furniture. According to Krause, this is when he "realized his multi-million dollar idea."[1][3][4]

According to the company's website, Scrub Daddy, Inc. was founded in 2012 with grassroots marketing.[5] On the Shark Tank episode originally airing in October 2012, Lori Greiner made a 20% equity stake deal with Krause for $200,000.[2] The following day, Greiner and Krause sold out of 42,000 sponges in under seven minutes on QVC.[6] Greiner then helped Scrub Daddy to be sold in retail stores such as Bed, Bath & Beyond. In January 2017, Scrub Daddy's total revenues surpassed $100 million – the highest of any Shark Tank product.[7]

Products

Scrub Daddy is made from a strong "high-tech polymer". The texture changes in water: hard in cold, soft in hot. The original product is yellow. Krause has two patents on its design.[3]

Other products

Krause has launched other sponges in the Scrub Daddy line, including products in multiple colors, lemon-scented, Scrub Daddy Heavy Duty, and Scrub Mommy – half Scrub Daddy material and half foam sponge.[6][8][9][10] The Scrub Daisy has also been added to its lineup.

References

  1. 1 2 "How I Made My Millions: Scrub Daddy". CNBC. NBR. 13 May 2016. Retrieved 2 February 2017.
  2. 1 2 Adams, Susan (18 March 2016). "Ten Of The Best Businesses To Come Out Of Shark Tank". Forbes. Retrieved 2 February 2017.
  3. 1 2 Sawyer, Nicole (20 March 2014). "Sponge Soaks Up 'Shark Tank' Success, Sales Balloon to $18M". ABC News. Good Morning America. Retrieved 2 February 2017.
  4. ↑ "3M Acquires Paint Finishing Business". 3M. 23 September 2008. Retrieved 2 February 2017.
  5. ↑ "About Us". Scrub Daddy. Retrieved 2 February 2017.
  6. 1 2 Walker, Jodi (5 December 2014). "Where To Buy 'Shark Tank's Scrub Daddy So You Can Help It Remain the Series' Most Successful Product". Bustle. Retrieved 2 February 2017.
  7. ↑ Whitney, Alyse (12 January 2017). "The One Shark Tank Product Actually Worth Buying". Condé Nast. Bon Appétit. Retrieved 2 February 2017.
  8. ↑ Mastrull, Diane (30 June 2014). "Big Daddy". The Inquirer. Philly.com. Retrieved 2 February 2017.
  9. ↑ Takiff, Jonathan (13 March 2016). "Gizmo Guy: Home Grown". The Inquirer. Philly.com. Retrieved 2 February 2017.
  10. ↑ Schwartzberg, Lauren (2 May 2016). "An All-Purpose Sponge That's Better Than Your Average Scotch-Brite". New York Magazine. Retrieved 2 February 2017.
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