Scrub Daddy is one of the most successful businesses to appear on Shark Tank and has continued to see growth and success long after their appearance on a 2012 episode of the series, according to a report shared by the Insider.
The mission of Shark Tank is to give a chance to the little guy. On each episode of the ABC series, individuals and teams are seen standing before a number of potential investors, Kevin O'Leary, Barbara Corcoran, Daymond John, Robert Herjavec, Mark Cuban, and Lori Greiner, as they attempt to convince them to financially assist with the growth of their companies.
Although not everyone gets a deal, many do. And, the lucky few have gone on to run successful companies with the help of their "shark."
Scrub Daddy, like fellow business Bombas and Squatty Potty, was able to capitalize on the 2012 deal they made on the show, which has reportedly led a number of businesses to make upwards of $150 million in sales in the past several years.
As loyal viewers may recall, Aaron Krause went on Shark Tank in an effort to help launch his sponge brand.
As the Insider reminded readers, Krause pitched his idea for a durable, reusable, smiley-faced sponge, who he gave the name Scrub Daddy. And, in turn, "shark" Greiner was interested.
After hearing the man's pitch, Greiner decided to invest a whopping $200,000 in Krause's company in exchange for a 20 percent stake in the brand and all of its future earnings.
"I know a hero from a zero. This is a hero," Greiner said during the 2012 episode.
After Krause filmed the show, his company, not surprisingly, took off with the help of Greiner and by 2019, Scrub Daddy was valued at an impressive $170 million after selling 25 million sponges.
One year later, in December 2020, Krause told the Philadelphia Business Journal during an interview that his company's sales were going up to the tune of 25 to 30 percent year after year.
As for the other super-successful brands assisted by Shark Tank and its investors, Bombas, a sock company with a charity-driven mission who caught the attention of Daymond John, was making $100 million a year by 2019. And, as of May 2021, they've donated 48 million pairs of socks.
As for Squatty Potty, who also had Greiner as an investor, they sold $1 million worth of products in the first 24 hours after their episode aired. And, within five years of their show, they sold $208 million worth of products.
Shark Tank season 13 premieres on ABC on October 8, 2021.