Shark Tank product that sparked bidding frenzy is now worth $200 million
Screenshot from Shark Tank Global's YouTube channel: A Bidding War Breaks Out During Scrub Daddy's Pitch | Shark Tank US | Shark Tank Global / https://www.youtube.com/watch?v=ae5MssJ8en4&t=439s

Shark Tank product that sparked bidding frenzy is now worth $200 million

In the 4th 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 managing to get one Shark on board, the smiley face sponge has gone to earn hundreds of millions. As well as going viral on TikTok, Scrub Daddy‘s net worth has skyrocketed.

The man behind Scrub Daddy is Aaron Krause. He is Scrub Daddy’s CEO as well as the company’s president and inventor.

Although he graduated from Syracuse University with a psychology degree, he began his own business of cleaning products.

Previously pitching Scrub Daddy to QVC, his company shot to fame in 2012 when he had appeared on Shark Tank.

Initially, Aaron asked for an investment of $100,000 for 10% equity. In the end, Shark Lori Greiner ended the deal on the double what he had initially asked for, $200,000 for 20% equity in Scrub Daddy.

  • RELATED: Shark Tank: What’s Umaro’s plant-based bacon made of as fans can’t wait to try it

What is Scrub Daddy?

Scrub Daddy is a company that manufactures cleaning products. Products are widely known for their smiley face sponges.

The gist of the product, made from polymer, is that in cold water the sponge becomes hard but in warm water, it becomes soft.

An unconventional social media presence that is now worth $200 million

Are there other ways to showcase one’s business? Well, TikTok has been the app where thousands of lesser-known businesses have risen to fame. Scrub Daddy is one of them.

As per The Independent, its CEO has been spending hours and hours reading TikTok comments, sleeping “like three hours a night”. The TikTok account has already reached 1.5 million followers and 32.1 million likes.

  • TRENDING: Where American Idol runner-ups are now – avoiding spotlight to Queen

The videos have gone viral for their creativity in promoting the products, which TikTok users find entertaining.

After appearing on the reality show Shark Tank in 2012, Krause told The Independent that their business had experienced a huge increase of its online fandom.

Scrub Daddy’s exposure and popularity hit sky high on Tiktok and leading to earnings reaching $200 million in 2019.

@scrubdaddy

Words can simply not describe this beautiful moment. @duolingo #scrubdaddy #smile #cleantok #cleaningtiktok #smile #duolingo

♬ original sound – Scrub Daddy
  • RELATED: Who is Tania Speaks the 19 year old entrepreneur on Shark Tank?

Scrub Daddy’s net worth

Aaron Krause’s net worth is estimated to be over $70 million, according to Venture Jolt. This is thanks to his investor on Shark Tank, Lori Greiner. Not only is his net worth is attributed to his company, but also his fame.

Scrub Daddy became a huge success with Lori’s investment and launch of the product to QVC. Scrub Daddy products were then sold in Target, Walmart, and Bed Bath & Beyond.

Thoughts? Comment Below