The popular TV series Shark Tank made its debut on August 9, 2009, and is currently airing its 16th season on ABC, which kicked off on October 18, 2024. This season marks a significant moment as it will be the final one for investor Mark Cuban, while Lori Greiner continues to thrive as new episodes roll out.
In the context of the show, the investors are referred to as “Sharks,”who engage in negotiations with aspiring business owners presenting their innovative products. During an interview with People magazine on October 18, 2024, Lori Greiner shared insights about one of her most transformative investments featured on the show.
Lori highlighted her partnership with Aaron Krause, the creator of Scrub Daddy, which was showcased in an episode aired on October 25, 2012. She successfully acquired a 20% equity stake in the company with a $200,000 investment, surpassing Kevin O’Leary’s competing bid of $100,000 for a 50% stake.
“When Scrub Daddy came on board, Aaron was in need of assistance with his packaging. At that time, he had only generated $140,000 in sales. Now, we’ve evolved it into a multi-billion dollar global enterprise, fundamentally altering his life and his family’s circumstances,”Lori remarked.
Scrub Daddy stands out as one of the most triumphant brands to emerge from Shark Tank. According to a report from Fortune, the company now employs 273 people, offers 160 different products, and is available in 257,000 retail locations, with sales exceeding $670 million, and achieving over $220 million in sales in 2023 alone.
Lori Greiner’s Close Relationship with Aaron Krause and His Family
In her interview, Lori expressed her commitment alongside Aaron to make a significant difference for everyone connected to Scrub Daddy and to contribute positively to the community. She stated that they have established manufacturing facilities worldwide to generate local employment and support regional economies.
Lori also mentioned that during the journey of taking Scrub Daddy to new heights, she has become “super close”with Aaron and his family, appreciating the positive influence they have had on her life, to the extent that they often vacation together.
According to Lori, establishing personal relationships with the entrepreneurs she works with is crucial for her success. “I build strong connections with most of the entrepreneurs I partner with. They enrich my heart and soul first before we conduct successful business together. Our collaborations typically include a focus on humanitarian efforts and giving back, which only enhances our profitability,”Lori explained.
“The reason we achieve success is that we prioritize those personal connections and charitable efforts alongside our business dealings,”she added.
This isn’t the first occasion Lori has reflected on the incredible success that has emerged from Shark Tank. On November 15, 2023, she shared her thoughts on her Instagram about her immediate reaction when Aaron presented Scrub Daddy to the sharks.
Lori conveyed that the pitch was “highly demonstrable”and reminiscent of QVC’s style, leading her to feel an instant connection with the product. She was certain of her intention to invest from the moment Aaron started his presentation, as it resonated perfectly.
In the interview with People, Lori discussed how Shark Tank has evolved since its inception. She noted that the latest season is expected to feature a variety of AI-driven products—a shift that reflects the changing economic landscape and consumer demands. Despite rumors of a challenging market, Lori believes many products are thriving, which inspires the sharks to support companies seeking financial assistance.
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