"It has changed his entire life"— Shark Tank's Lori Grenier recalls investing in Aaron Krause's Scrub Daddy

Shark Tank, launched on August 9, 2009, currently airs season 16 on ABC. The ongoing season premiered on October 18, 2024. While this would mark the last season for shark Mark Cuban, Lori Greiner seems to be going strong as new installments keep churning in.

Sharks is the moniker given to investors in the show who carefully make a deal with hopeful entrepreneurs showcasing their products. In an interview with People magazine on October 18, 2024, Shark Tanks panelist Lori Greiner opened up about one of her most impactful investments on the show.

Lori talked about Aaron Krause's Scrub Daddy, which appeared in an episode that aired on October 25, 2012. Lori managed to get a 20% stake with an offer of $200,000 winning over Kevin O’Leary's offer of $100,000 for a 50% stake.

"Scrub Daddy came in... he needed help with his packaging, he had $140,000 in sales, that was it, and we have taken it now to a multi-billion dollar company and an international global company. It has changed his entire life, his family's life," Lori said.

Scrub Daddy has been one of the most successful companies to come out of Shark Tank. Fortune reported that the company has grown to include 273 employees, 160 products, and 257,000 retail locations, and has done over $670 million in sales. It made over $220 million in sales for 2023.

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Shark Tank's Lori revealed she is close to Aaron Krause and his family

In the same interview, Lori spoke about how she and Aaron are trying to change the lives of everyone involved with Scrub Daddy and give back to the community. She claimed that they have built factories globally for its production, which would help the surrounding area and create jobs.

Lori further revealed that throughout the process of taking Scrub Daddy to the next step, she has grown "super close" to Aaron and his family. She praised them for making a positive impact on her own life and shared that the Krause family would often go on vacation together with her.

According to Lori, this approach of knowing the person behind the product has worked for her. The shark added that she does it with every other entrepreneur she has associated with.

"I have relationships with most of my entrepreneurs. I love them. So they enrich my heart first and my soul first, and then we do good business together and then we help other people, and we have a humanitarian bent usually, a give-back, and we make money. ... We make money because we do all those other things," Lori mentioned.

This is not the first time Lori has talked about one of the biggest successes to come through Shark Tank. In an Instagram post dated November 15, 2023, the businesswoman answered what she was thinking when Aaron pitched Scrub Daddy to the sharks.

Lori revealed that the presentation "was highly demonstrable" done in the style of QVC and felt an instant connection with the product. She knew she was going to invest the moment Aaron began as his presentation hit all the right notes.

Elsewhere in the Poeple interview, she talked about the transformation that Shark Tank has gone through since its inception. Lori speculated that many AI-related products will be introduced in the latest season which they "really didn't get" before.

She related this to the ever-changing economic condition of the country and mentioned that many products were doing well despite many claiming that it was not a good market. Lori claimed that this is what motivated the sharks as they intend to help companies who need that financial push.