Company:Scrub Daddy
 | |
| Industry | Cleaning products |
|---|---|
| Founded | 2012 |
| Founder | Aaron Krause |
| Headquarters | 1700 Suckle Highway Pennsauken Township NJ , USA |
| Products | Sponges |
| Website | scrubdaddy |
Scrub Daddy is a cleaning product company best known for eponymous sponges it manufactures in the shape of a smiley face. Most products are made of a polymer which changes texture – firm in cold water and soft in warm water.[1] As of 2019, Scrub Daddy had the highest revenue of any product successfully pitched on the ABC reality show Shark Tank.[2][3]
History
After damaging the exterior of a vehicle when cleaning the outside, detailer Aaron Krause invented a 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][4][5]
According to the company's website, Scrub Daddy, Inc. was founded in 2012 with grassroots marketing.[6] 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 42,000 sponges in under seven minutes on QVC.[7] 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.[8] As of October 2019, the company's lifetime sales were $209 million.[9] In Season 14 Episode 13, it was reported that Scrub Daddy in 10 years has 273 employees, 160 products, sold in 257,000 retail locations, and is a top 5 grossing company in Shark Tank history, having sold more than $670 million in retail sales since launch.[10]
Products
Scrub Daddy
Scrub Daddy is made from a strong "high-tech polymer", which is likely to be polycaprolactone based on prior patent filings.[11][12] The texture changes in water: soft in hot water, firm in cold water. The original Scrub Daddy is a yellow circular scrubber with a smiling face punched into it. Krause has two patents on its design.[4]
Other products
The brand consists of more than 20 products,[13] including scouring pads, dual-sided sponges, sink organizers, soap dispensers and household erasers.[7][14][15][16]
References
- ↑ 1.0 1.1 "How I Made My Millions: Scrub Daddy". NBR. CNBC. 13 May 2016. http://nbr.com/2016/05/13/how-i-made-my-millions-scrub-daddy/. Retrieved 2 February 2017.
- ↑ 2.0 2.1 Adams, Susan (18 March 2016). "Ten Of The Best Businesses To Come Out Of Shark Tank". Forbes. https://www.forbes.com/sites/susanadams/2016/03/18/ten-of-the-best-businesses-to-come-out-of-shark-tank/#3d917eaf5015. Retrieved 2 February 2017.
- ↑ "Shark Tank: secrets behind most successful business to appear on show". NZME. 4 February 2019. https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12200536. Retrieved 7 February 2019.
- ↑ 4.0 4.1 Sawyer, Nicole (20 March 2014). "Sponge Soaks Up 'Shark Tank' Success, Sales Balloon to $18M". Good Morning America. ABC News. https://abcnews.go.com/blogs/business/2014/03/sponge-soaks-up-shark-tank-success-sales-balloon-to-18m/.
- ↑ "3M Acquires Paint Finishing Business". 3M. 23 September 2008. http://news.3m.com/press-release/company/3m-acquires-paint-finishing-business.
- ↑ "About Us". https://scrubdaddy.com/about-us/.
- ↑ 7.0 7.1 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. https://www.bustle.com/articles/52311-where-to-buy-shark-tanks-scrub-daddy-so-you-can-help-it-remain-the-series-most.
- ↑ Whitney, Alyse (12 January 2017). "The One Shark Tank Product Actually Worth Buying". Bon Appétit. http://www.bonappetit.com/story/scrub-daddy-sponge-shark-tank-review.
- ↑ Locke, Taylor (14 October 2019). "The Stories Behind Shark Tank's Most Successful Products Ever — and How Much They're Worth Now!". CNBC Make It (CNBC LLC.). https://www.cnbc.com/2019/10/14/best-selling-shark-tank-products.html.
- ↑ "Scrub Daddy's Valuation - Latest Sales After Shark Tank". Techie + Gamers. https://techiegamers.com/scrub-daddy-net-worth/.
- ↑ "Scrub Daddy Science | Chemical Education Xchange". 3 January 2018. https://www.chemedx.org/blog/scrub-daddy-science.
- ↑ Krause, Aaron C., "Thermochromic foam cleaning pad and process for making the same", US patent application 2014075699, published 2014-03-20, since abandoned.
- ↑ "One of Shark Tank's Best Selling Dishwashing Products of All-Time is Only $7" (in en-US). 2020-03-09. https://www.intheknow.com/post/scrub-daddy-shark-tank/.
- ↑ Mastrull, Diane (30 June 2014). "Big Daddy". Philly.com. The Inquirer. http://www.philly.com/philly/columnists/diane-mastrull/20140630_Big_Daddy.html. Retrieved 2 February 2017.
- ↑ Takiff, Jonathan (13 March 2016). "Gizmo Guy: Home Grown". Philly.com. The Inquirer. http://www.philly.com/philly/business/20160313_Gizmo_Guy__Home_Grown.html. Retrieved 2 February 2017.
- ↑ Schwartzberg, Lauren (2 May 2016). "An All-Purpose Sponge That's Better Than Your Average Scotch-Brite". New York Magazine. http://nymag.com/thecut/2016/04/better-all-purpose-sponge.html. Retrieved 2 February 2017.
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