Lori Greiner's Scrub Daddy Earnings Revealed

Lori Greiner, also known as the “Queen of QVC,” has made many successful investments on Shark Tank over the years, coming in just below Mark Cuban in terms of the number of deals made.

But out of all her successful Shark Tank ventures, there’s none more lucrative than Greiner’s investment in Scrub Daddy, the wildly popular smiley-face-shaped kitchen sponge that now adorns kitchen sinks worldwide.

In this article, we’ll take a deep dive into the details of Greiner’s Scrub Daddy deal, including how much Lori made from Scrub Daddy, the sponge’s backstory and Shark Tank pitch, and the company’s remarkably successful post-show journey.

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How Much Did Lori Make from Scrub Daddy?

In 2012, Scrub Daddy’s founder, Aaron Krause, appeared on Shark Tank seeking an investment of $100,000 to scale his business, for which he was prepared to trade 10% equity. 

After the pitch, there was an exciting back-and-forth negotiation process between Krause and several of the Sharks, but Lori Greiner ultimately walked away with a deal of $200,000 for a 20% stake in Scrub Daddy, doubling Krause’s original ask.

This investment turned out to be one of the most successful in Shark Tank’s 15-season history—Scrub Daddy reportedly earned around $220 million in sales revenue in 2023.

Needless to say, Lori Greiner’s 20% stake in the company translates to a significant annual return for her investment of just $200,000 back in 2012.

Although exact numbers for how much Lori makes from Scrub Daddy are not made public, it’s estimated that her investment in the company has resulted in earnings well over $50 million, taking into account Scrub Daddy’s valuation, annual revenue, and growth.

Scrub Daddy’s Story

Aaron Krause’s journey with Scrub Daddy began long before he appeared on Shark Tank. An inventor at heart, Krause started his career in the automotive detailing industry, when he started his own car washing business after graduating from college, eventually leading him to invent a new type of buffing pad for auto polishing. 

Krause’s invention was spurred on by his dissatisfaction with the performance of existing buffing pad products on the market. The special pad he invented employed urethane foam and would secure Krause his first patent.

While running his car washing and buffing pad business, Krause saw the need for a new product—something that could help him scrub off the grease and oil his hands were always covered in from the machines he used.

After ordering sponge foam samples from manufacturers all over the world, Krause found one he liked from a German supplier. He cut an arch and two holes in the sponge to help him clean his fingers, which he realized made a sort of smiley face, and thus Scrub Daddy was born.

Krause sold his buffing pad business to 3M in 2008, but they didn’t want to purchase his patented sponge technology as part of the deal, so he put his existing stock in boxes for a few years. 

Then, one fateful day in 2011, Krause decided to use one of the sponges to clean some lawn furniture and discovered that the sponge material changed texture depending on the temperature of the water.

This led Krause to test the sponge out on dishes, and he realized he was onto something. Upon discovering just how effective the material was for dishwashing, Krause secured a patent and began to sell Scrub Daddy on QVC, foreshadowing what was to come when he would make a deal with the Queen of QVC.

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The Shark Tank Pitch

Scrub Daddy’s pitch on Shark Tank was a masterclass in presentation, described by one of the Sharks afterwards as a “live infomercial.”

Krause started by enthusiastically demonstrating the sponge’s unique properties, using effective props that included a dirty stove, frying pan, and spoon. He showed the Sharks how the Scrub Daddy remained firm in cold water and softened in warm water, making it both an effective cleaning utensil and easy to rinse clean itself.

Krause’s energetic delivery, coupled with his well-prepared live demonstration of the Scrub Daddy’s dual-texture capabilities on different surfaces, captured the Sharks’ attention and impressed them enough for several of them to make him offers after the pitch.

The Scrub Daddy pitch's success can be attributed to several key factors, which aspiring entrepreneurs and anyone who wants to apply to be on Shark Tank would do well to study.

• Clear Problem-Solution Presentation: Krause identified a common household problem and demonstrated how Scrub Daddy provided a superior solution.
• Engaging Demonstration: Live demos showing immediate results helped the Sharks (and viewers) visualize the product’s effectiveness.
• Market Potential: Krause highlighted Scrub Daddy’s broad market appeal and its consumable nature, ensuring repeat customers.
• Personal Story: Krause’s entrepreneurial journey added a personal touch, making the pitch more relatable and compelling.

What Happened To Scrub Daddy After the Show?

Financials

Following the 2012 Shark Tank episode on which Aaron Krause and Scrub Daddy appeared and secured a deal from Lori Greiner, the company experienced an explosive increase in demand. 

The wide exposure obtained from appearing on the show (the “Shark Tank Effect”), combined with Greiner’s marketing expertise and experience in the home goods industry, took Scrub Daddy to new heights.

In fact, within minutes of Scrub Daddy’s Shark Tank episode airing on television, the product sold out on the QVC shopping channel, and by the end of 2012 Scrub Daddy had done more than $1 million in sales.

The financial growth of Scrub Daddy after Shark Tank didn’t stop there. By 2014, the company’s sales had skyrocketed to over $18 million, and by 2017, it had exceeded $100 million in total revenue. This exponential growth has continued, with the company reaching an estimated valuation of over $250 million by 2023. 

Lori Greiner's initial investment of $200,000 for 20% equity has yielded a return that most investors can only dream of. Her stake in Scrub Daddy, given the current valuation, could be worth approximately $50 million or even more.

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Retailers

Scrub Daddy’s immediate post-show success was just the beginning. The brand expanded rapidly, beginning to sell Scrub Daddy and other related products in major national retailers, including Walmart, Target, Bed Bath & Beyond, and Costco.

Scrub Daddy’s products are now available in 60+ online and brick-and-mortar retail stores, and are found in virtually every major retail store in the US. These strategic retail partnerships have played a crucial role in Scrub Daddy’s growth, as being stocked by major retailers not only boosted sales, but also boosted the brand's visibility. 

Scrub Daddy's presence in major retail stores has also led to numerous promotional opportunities, including prime shelf placement and special marketing campaigns, further driving consumer interest and sales. 

Overall, its widespread availability and visibility have significantly contributed to Scrub Daddy’s sustained revenue growth and market penetration, earning Lori Greiner a major ROI!

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Expansion

Scrub Daddy now offers more than two dozen varieties of sponges and scrubbing pads, as well as a wide range of related products, including erasers, mops, dish wands, microfiber towels, and soap dispensers. 

The expansion of Scrub Daddy’s product line has not only increased revenue streams, but also cemented the brand’s position in the cleaning product market—Scrub Daddy’s innovation extends far beyond the original Scrub Daddy sponge. 

For example, the company has developed products like Scrub Mommy, which combines the original Scrub Daddy foam with a softer sponge side, and Scrub Daisy, a flower-shaped scrubber with various attachments. These products cater to different cleaning needs and preferences, ensuring that Scrub Daddy maintains a competitive edge in the market.

Scrub Daddy has even expanded into numerous international markets, offering its products in countries and regions including Canada, the UK, the EU, Latin America, Australia, and many others. The company’s international expansion continues to be a strategic focus, allowing it to tap into new markets and broadening the company’s global footprint.

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Wrapping Up

Lori Greiner’s investment in Scrub Daddy is a testament to her keen eye for innovative products with mass-market appeal. From a “small” $200,000 investment to a multi-million-dollar return, Scrub Daddy’s Shark Tank success story demonstrates the potential that the show offers to entrepreneurs and investors alike. 

Aaron Krause’s Scrub Daddy invention has not only revolutionized the cleaning industry, but also solidified its place as one of the most successful products to emerge from Shark Tank! For aspiring entrepreneurs, Scrub Daddy’s journey underscores the importance of perseverance, innovation, and the power of a great pitch.

How much Lori made from Scrub Daddy and Aaron Krause’s incredible success with his brand is a shining example of how a smart investment, paired with the right leadership, expertise, and support, can lead to extraordinary financial returns for everyone involved, not to mention have a lasting impact on the market.

With Lori Greiner’s guidance and investment, Scrub Daddy has gone from a clever invention to a household name, making millions along the way. So, let the story of Scrub Daddy and Lori Greiner serve as an inspiration to both inventors and investors!