Michael and Eugene Jung are brothers who like playing ping pong. They wanted to share their passion for the game with as many people as possible. They wanted everyone to have fun and interact with others. Thus, they established Pips and Bounce, a ping-pong lounge. People can enjoy food and beverages while playing ping pong there. Portland, Oregon, was the site of their first establishment.
The brothers wanted to expand their company even more. They intended to open more lounges in order to grow. They appeared on Shark Tank in the hopes that the sharks would assist them. They requested $500,000 in exchange for a tenth of their company. Will the entrepreneur get a deal on Shark Tank? Check out the Pips & Bounce update to find out!
Pips & Bounce Net Worth Shark Tank Update 2025
Michael and Eugene Jung asked for a $500,000 investment in exchange for 10% equity in Pips and Bounce. This meant they valued their company at $5 million. However, no deal was made on Shark Tank, as the sharks expressed concerns over the company’s low profit margins and high valuation. After the show aired, Pips and Bounce saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Pips and Bounce is about $1.1 million.
Following Shark Tank, Pips and Bounce remained in business. The COVID-19 pandemic presented them with a significant obstacle. They were forced to temporarily close. They reopened in August 2021, however. The Portland location continues to thrive. Playing ping pong and having fun is something that many people look forward to.
Events, leagues, and drinks with a ping-pong theme are available in the lounge. It’s possible that Pips and Bounce haven’t developed much since Shark Tank. But Portland still likes it. A lot of satisfied consumers write reviews. Those looking for a distinctive social experience appear to enjoy Pips and Bounce. As of 2024, many people still appreciate the companionship.
No, Bounce and Pips were not given a Shark Tank deal. Michael and Eugene Jung requested $500,000 for a ten percent stake. This indicates that they thought their business was worth $5 million. The sharks were worried about this estimate. The profit margins, in their opinion, were too low.
The business only earned a 7% profit. The sharks believed the business was not prepared for franchising. The sharks each made the decision to reject a bargain. Daymond John, Kevin O’Leary, Lori Greiner, Mark Cuban, and guest shark Maria Sharapova all declined the offer. Every shark had a different explanation for dropping.
| Shark(s) name | Offer & Demand | Daymond John | Accepted? |
| Maria Sharapova (Guest Shark) | Out | N/A | N/A |
| Lori Greiner | Out | N/A | N/A |
| Kevin O’Leary | Out | N/A | N/A |
| daymond John | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
Pips & Bounce Shark Tank pitch
The brothers Michael and Eugene Jung hail from Portland, Oregon. They loved playing ping pong as children. The game helped them bond as they played together. They intended to spread their enthusiasm to more individuals as they grew older. They discovered that everyone could enjoy playing ping pong. Thus, the concept of a ping pong lounge was born.
They intended it to be a space for eating, drinking, and playing. They desired a club-like atmosphere. A place where individuals might unwind and have fun. In the beginning, they encountered numerous difficulties. Managing excessive expenses was a part of running a lounge. They needed to figure out how to turn a profit without sacrificing enjoyment. However, they continued. They believed in their vision. They opened Pips and Bounce and hoped it would bring joy to people.
Michael and Eugene were prepared to demonstrate their concept to the sharks when they appeared on Shark Tank. They portrayed Pips and Bounce as a great spot to play ping pong with others. They discussed their desire to use franchising to expand their company. They impressed the sharks by sharing their sales figures. They generated $974,000 in sales throughout their first year.
They sold $1.3 million in the second year. The brothers anticipated that these figures would demonstrate the viability of their company concept. They offered their ping-pong-themed cocktails for the sharks to try. The brothers wanted everyone to have a good time. However, they also required the sharks to view it as a business. Eugene and Michael showed passion and belief in their idea. They hoped the sharks would feel the same.
Regarding Pips and Bounce the sharks had a lot of questions. They were curious about the lounge’s earnings. They were curious as to whether it was a successful enterprise. The brothers disclosed to the sharks that they only had a 7% profit margin. This indicated that after paying their expenses, they were not earning much money. This poor profit margin was a concern for the sharks. Kevin O’Leary questioned how they arrived at their $5 million estimate.
The brothers clarified that their calculations were predicated on 500 franchises earning $100,000 apiece. This figure seemed implausible to the sharks. They were interested in learning more about the long-term viability of the company. The sharks also wanted to know if Pips and Bounce could work as a franchise. But the brothers did not have clear answers. The sharks were not convinced.
Pips and Bounce strongly influenced the sharks’ judgments. The first person to go was Daymond John. He claimed that he simply disliked ping pong. Lori Greiner left as well. She believed the company was too young to be franchised. She believed that additional time was needed to build it up. As Kevin O’Leary noted, the low profit margins were concerning.
He also believed that the company was not prepared for franchising. Although she thought it was a good concept, Maria Sharapova thought it was too hazardous. The valuation did not sit well with Mark Cuban. He believed the brothers needed to provide more evidence of their business plan. The final shark to remain in the conversation was Kevin. However, he decided not to make an offer because he felt the valuation was too high. So Pips and Bounce left without a deal.
What Went Wrong With Pips & Bounce On Shark Tank?
A number of factors prevented Pips and Bounce from getting a deal. The poor profit margin was the first problem. The sharks believed the company was not producing enough money at just 7%. They believed that for it to be successful, a larger profit margin was required. The valuation was the second problem. The business was worth $5 million to the brothers. However, this figure was considered impractical by the sharks.
They believed that it wouldn’t be worth that much until Pips and Bounce had more time to develop. The fact that some sharks disliked ping pong was another issue. Daymond John acknowledged that he didn’t find the game enjoyable. Additionally, some sharks believed it was too early to franchise the company. They desired that the brothers build a more solid base before expanding.
Product Availability
A distinctive ping pong lounge called Pips and Bounce. Ping pong is a game that people can play there together. They can savor food and beverages as well. The lounge serves drinks with a ping-pong theme and has a full menu. It is intended to have a social club vibe. Clients can host parties, participate in leagues, or simply unwind and play.
The location of Pips and Bounce is in Portland, Oregon. It has grown in popularity as a destination for those seeking something unique and enjoyable. The company has not grown but it is still operating and doing well. The opportunity to play ping pong and the lively atmosphere are popular in Portland. More information about Pips and Bounce’s events and products may be found on their website.
Conclusion
Pips and Bounce had a challenging journey on Shark Tank. Eugene and Michael Jung wanted to grow their business with help from the sharks. They believed in their idea and hoped to expand by franchising. But the sharks had concerns about the low-profit margins and high valuation. In the end, no shark made a deal. Despite this setback, Pips and Bounce continued to operate in Portland.
They faced challenges, like having to close during the pandemic. But they managed to reopen and are still going strong. Many people in Portland enjoy visiting the lounge. They come to play ping pong, enjoy food and drinks, and have fun. Pips and Bounce may not have expanded, but it remains a unique and popular spot. The future could hold more growth and new possibilities for this ping pong lounge.
Hi, I’m Laiba Khurram, a BBA student specializing in Marketing at FAST NUCES ISB. My background includes experience in finance, marketing, and event coordination. My skills include teamwork, time management, and Microsoft tools. Watching Shark Tank has always inspired me, as I admire the innovative pitches and entrepreneurial spirit showcased on the show. This passion drives my approach to finding creative solutions and understanding market dynamics. Read more About me.
