The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 15 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Krause: Scrub Daddy will only sell to major CPG or IPO
“Selling this to, like, XYZ private equity firm doesn't tick it for me, and I have no interest in that. This needs to go to the right home at some point, and that needs to be one of the largest companies in the world in the CPG space. That needs to be a Procter…”
Krause pivoted Scrub Daddy from an industrial cleaner to a kitchen sponge
“This has nothing to do with you cleaning your dirty hands in a body shop. This is the greatest kitchen scrubbing tool in the world. I just need to market this differently.”
Scrub Daddy generated $1M in sales the night Shark Tank aired
“We did a million dollars the night the show aired.”
Krause: QVC-Only Sales Model Would Inevitably Hit Saturation and Fail
“It would have been a spike, and then a saturation point, and then they would, the minute that you had a bad show, you would have been kicked off.”
Krause: Circular sponges are better suited for kitchenware than rectangular ones
“What I'm noticing now is Is that everything is round. Pots, pans, plates, coffee pots, muffin tins, casserole dishes, they're all round. Why are we using a rectangular sponge with edges? Because this is getting all the way to the sides of all these things, and…”
3M excluded the Scrub Daddy prototype from its acquisition of Krause's business
“They went through and carved out five items and said, not interested in any of them.”
Krause: I would step down as CEO if Scrub Daddy goes public
“I would consider going public, and at that point, I would step down. I'm not, I don't want to run a public company. It's far too much red tape for me”
Krause: Scrub Daddy secured exclusive supply rights to German sponge material
“I negotiate with the company and get a, an exclusivity on the material. They can't sell it to anyone else but me. And it turns out for some very specific reasons, no one else can make it. It's literally locked into this one particular facility in Germany.”
Walmart and Bed Bath & Beyond picked up Scrub Daddy post-Shark Tank
“And the Bed Bath & Beyond person that wouldn't talk to us before called us, and Walmart called us, and Lori was really gracious,
and, you know, she joined a bunch of the calls and brought star power, and they were, like, blown away and instantly took the produ…”
Krause: Original Scrub Daddy Hand Scrubber Was Priced at $4.50
“It's a really, we call it a highly engineered polymer, and it was made in Germany, so we had to ship it across the ocean, and then we had to cut it and shape it, and it was four and a half dollars.”
Krause: Scrub Mommy outsells Scrub Daddy by about 10% in every retailer
“And to this day, Scrub Mommy outsells Scrub Daddy by about 10% in every retailer.”
Krause bought out 50% partner in Innovative Accessory Products for Scrub Daddy
“Well, I had the right to make the final decisions on everything as the CEO of the company, and I pulled out the shareholder agreement, and I said, here's the deal. You're a 50% shareholder, and I'm a 50% shareholder, but I have the right to make the decision o…”