“The Scrubbie” got featured on Shark Tank America in 2021 April. It was founded by Matt Hosey, Jeff Dakin, and Tyler Kessler. The Scrubbie has an estimated net worth is $1.25 million as of 2023.
Scrubbie’s Net Worth in 2023
Here is an update on The Scrubbie’s net worth so far.
|The Scrubbie’s Net worth before appearing on Shark Tank||1 Million USD (business valuation)|
|The Scrubbie’s Current Net worth (2023)||1.25 Million USD|
The Scrubbie founders Matt Hosey, Jeff Dakin, and Tyler Kessler have a net worth of 1.25 Million USD as of 2023.
How is The Scrubbie doing now (Latest update)
Despite having a potential customer base of 6 million on the day it premiered on “Shark Tank”, the company struggled to make sales.
The Scrubbie is now available on Amazon as well.
The Website offers a $30 subscription service that delivers a pack of three sponges every two months.
At the time of writing, The Scrubbie has over 1,000 five-star reviews featured on the company website.
Also As of 2023, there are no lawsuits but they modified the logo slightly.
What is Scrubbie?
Washing dishes is one of the tiring daily tasks. Also, the many kitchen gadgets available on the market aren’t much effective. So everyone is searching for something helpful to ease it. Then Scrubbie is one handy option for you.
According to the company website, The Scrubbie is a universal attachment for most kitchen sinks with pull-down sink sprayers or original kitchen sink spray guns.
Scrubbie is a cleaning solution for housewives who spend hours cleaning their stuff. The Scrubbie can be attached to any tap and enjoy its functioning. As the producers state, it can clear any surface and make them free of spots, dirt, and unnecessary matter.
The product had a rush in the market with sales, and the immediate success opened the gate to Shark Tank as well.
Not only the kitchen stuff but any dirty stuff such as dirty patio furniture, stinky coolers, and anything you name can be cleaned using the Scrubbie.
How does Scrubbie work?
All you have to do is to attach the Scrubbie to the pipe hose. It will take seconds to fix, saving hours of hard work and liters of water monthly.
According to the engineers who designed the Scrubbie, they have planned for a solution so that the user doesn’t have to touch the sponge. It has been priced at $14, and the buyer gets three sponges along with the Scrubbie.
Who owns The Scrubbie?
The company was founded by their friends, Jeff Dakin, Matt Hosey, and Tyler Kessler. Dakin was the brain behind inventing this smart solution, and the whole operation was regarding a problem that Dakin had to face personally.
After spending hours cleaning the kitchen, Dakin wanted to do it quickly. After a brainstorming session, he could find a solution that freed his hands, and it looked to be a promising start.
His other friends, Matt and Dyler, made available assistance with finances and ideas, and here they are presenting their ultimate innovation.
What happened at the Shark Tank?
Jeff Dakin, Matt Hosey, and Tyler Kessler from Shark tank were $100,000 for their 10% shares. After a few improvements, the intention of making this deal with the shark was to expand their production and get a higher price for their product, The Scrubbie.
As soon as they came onto the stage, it seemed the trio came unprepared. Sharks asked about the products from different angles, and it looked like the answers were less than satisfactory level as well. Although the demonstration round could make an impact, the sharks went unsatisfied.
Firstly they demonstrated how to use the product with an attractive introduction. But meanwhile, the camera was focused on annoyed Lori Greiner’s face. Then Robert Herjavec mentioned the similarities with the Scrub daddy logo. Lori points out all the similarities and decided to stay out of the deal.
The scrubbies’ lifetime sales were only worth around $13000 at the time they appeared on the show. Also, one piece sells for $13.99 while the production cost was around $3.99.Not only that the customers can get replacements for sponges for $ 9.99. But it’s on a Scrubbie subscription basis. So Kevin was confused about their revenues and numbers.
However, the other’s ideas changed after they heard about their revenue and expenses. But the Scrubbie team tried to defend the low sales with different excuses.
Also, Lori was angry and questioned the similarities of the packaging design. Mark Cuban also criticise and told the product may be sold by accident because of the packaging. Because of all these reasons, the Scrubbie Shark Tank episode ended without a deal.
The Scrubbie SHARK TANK UPDATE – What happened after the Shark Tank
The first place to look is the website of Scrubbie, which is still working. They have been able to maintain the price, $14.99, making it a usual product. One of the main concerns of Shark Tank was the logo the company had introduced. They have made slight adjustments to the logo now.
However, Shark Tank Fans had different ideas about the trademark similarities. But there aren’t any official reports about anything related to trading mark lawsuits.
Regarding the charts related to revenue, Scrubbie has a net worth of $1M at present. Still, the company has not made any improvements associated with the technical department. But, the Scrubbie Instagram and Facebook accounts are more active than they were. It seems the company has its agenda now despite the shark’s advice.
In 2019 they sold the product at a stall at the Wichita women’s fair.
Also read: What happened to the Diaper Dust after the shark
Competitors off the company
Cast Iron Care Kit, Scouring Pads, Dish Brush with Soap Dispenser, Silicone and Nylon Scrubber, and Dishcloth and Towel Set are the competitors for the Scrubbie.