Scrub Daddy on Shark Tank Show
Scratch Free Scrubber - Season 4 - Episode 403
Shark Tank Success already had Lori Greiner pegged to make an offer on the Scratch Free ScrubDaddy as it seems a perfect fit to include in her line of products. They don't call Greiner the QVC Queen for nothing and she really wanted to add this product to her collection. We also expected another big blow up between Lori and her arch rival, Daymond John via their conversation on Twitter before the show ran. Right before the Shark Tank went to break, it was obvious
those two were going to go at it, again. What wasn't so obvious was the fact that this little Scrub Daddy was going to start a large bidding war going into Krause's favor.
Kevin O'Leary actually made a very reasonable offer (after he tried to steal half the company) in which he would just play the banker role without getting his hands dirty. O'Leary offered Krause the $100k he was looking for and did not want any percentage of the company. Instead he wanted a royalty of 50 cents for every Scrub Daddy Scrubber sold until he got his money back. He then wanted 10 cents a scrubber in perpetuity.(for ever)
;Kevin was quickly silenced as the bidding war between Daymond and Lori reached an unprecedented double the asking price. Greiner was not going to let this go and John knew it. Daymond then quickly withdraws his offer and announces he has just screwd Lori out of an extra $100k. Smartly played I must say.
Never the less Lori Greiner made the deal for $200k and 20% of the Scrub Daddy Enterprise. She obviously was aware of the QVC numbers and was probably willing to go much higher given the potential this product has.
Order Your Scrub Daddy Here
UPDATE: Lori Greiner wasted no time on getting to work on this product. Lori and Aaron Krause were on the QVC Channel the day after the airing of the Shark Tank. The Scrub Daddy sold out in 6 minutes. Now That's A Success Story!