Sandy Hyun and Roman Pietrs saw a big problem. Headphone cords always got tangled. People struggled with messy wires. It was frustrating. They wanted a simple solution. They thought of a device case. A case that would keep the cords neat. They created Mr Poncho. It was a sleeve for devices. It had a small rubber cup. Users could wrap their headphone cords around the cup. This kept them from tangling. It was easy to use. It worked for MP3 players and smartphones.
They believed their product had great potential. They wanted to reach more people. They needed help to grow their business. They went on Shark Tank. They asked for fifty thousand dollars. They offered twenty-five percent of their company. They showed the sharks how their product worked. They hoped to get an investment. But things did not go as planned. Will the entrepreneur get a deal on Shark Tank? Check out Mr. Poncho’s update to find out!
In our Mr. Poncho Update research, After Shark Tank Mr Poncho faced many struggles. The company gained some attention from the show. But there were major problems. The product was not fully protected by a patent. Other companies could copy the design. This made it hard to compete. Another big problem was technology. More people started using Bluetooth headphones. Wireless earbuds became popular.
People no longer needed a way to store wired headphones. Mr Poncho became less useful. Sales started to drop. It was hard to keep the business going. In 2015 Mr Poncho shut down. The founders moved on to other careers. Sandy started a jewelry business. Her jewelry became very successful. She sold products in big stores. Her business made about one million dollars per year.
Roman found a new career too. He became a creative director. Both of them moved on from Mr Poncho. The business is no longer active
In terms of a Mr. Poncho Update, Sandy and Roman did not get a deal. They wanted fifty thousand dollars. They were willing to give twenty-five percent of their company. The sharks listened to their pitch. They liked the idea. But they had concerns. One big problem was the lack of a patent. The product had a unique design. But the most important part was not protected. Other companies could make a similar product.
This worried the sharks. They did not want to invest in something that could be copied. Another problem was the future of wired headphones. The sharks were not sure if people would continue using them. If wireless technology took over Mr Poncho might not be useful anymore. The sharks decided not to invest. One by one they dropped out. Sandy and Roman left without a deal.
Sandy and Roman were looking for an investment of $50k in exchange for 25% equity in the company. At the time of the episode, they valued their company at $200k. They did not secure a deal with any of the Sharks. After the show was aired, the company experienced a small boost in exposure. However, due to increasing competition and the rise of Bluetooth headphones, sales declined. The business eventually shut down in 2015. As per my rough estimate, the current net worth of Mr. Poncho in 2024 is $0, as the company is no longer active.
Shark(s) name
Offer & Demand
Counteroffer
Accepted?
Barbara Corcoran
out
N/A
N/A
Barbara Corcoran
Out
N/A
N/A
Kevin O’Leary
Out
N/A
N/A
Daymond John
Out
N/A
N/A
Robert Herjavec
Out
N/A
N/A
Founders Backstory
Sandy Hyun and Roman Pietrs both loved the design. Sandy worked as a jewelry designer. Roman worked as a graphic artist. They were both creative people. They liked solving problems. They noticed that headphone cords were a big issue. People hated dealing with tangled wires. It was annoying. It was a waste of time. It could also damage the cords. They wanted to fix this. They came up with the idea for Mr Poncho.
It was a device sleeve. It had a rubber cup. Users could wrap their cords around it. This kept them neat and safe. It was simple and useful. At first, they made the product themselves. They sold it at craft fairs. They also listed it online. They got good feedback. People liked it. They saw a business opportunity. They wanted to grow. But they faced many challenges. They needed more money.
They needed better production. They wanted to reach more customers. They decided Shark Tank was the best way to do that. They prepared their pitch. They hoped to get an investment.
Initial Pitch
Sandy and Roman entered the Shark Tank. They had a fun and energetic start. They even sang a song. They wanted to grab attention. They introduced Mr Poncho. They showed how it worked. They explained why people needed it. They said tangled cords were a big problem. Mr Poncho was the perfect solution. It kept cords neat. It protected them from damage. The sharks were curious.
They asked questions. They wanted to know about sales. Sandy and Roman said they had sold five thousand units. They had been selling online. They had been making them by hand. They believed they could expand with the right investment. They asked for fifty thousand dollars. They offered twenty-five percent equity. They wanted the money to scale production. They wanted to sell in more places. The sharks listened carefully. But they had concerns.
The sharks had many questions. They wanted to know more about the business. They wanted to know if it could succeed. Kevin O Leary asked about the patent. He wanted to know if the product was protected. Roman explained they had a patent pending. However, they did not have a patent on the rubber cup. This was a key part of the design. The sharks were not happy about this. A missing patent was risky.
It meant other companies could copy the idea. Kevin Harrington asked about production costs. Sandy said each unit cost three dollars to make. They sold them for eighteen dollars. This showed a good profit margin. But the sharks wanted to know if they could make it cheaper. Sandy and Roman guessed they could lower costs to under one dollar. However, they had not done full research on this.
Daymond John asked about the future of wired headphones. He wanted to know if people would still use them. Wireless technology was growing. If people switched to Bluetooth Mr Poncho would become useless. Robert Herjavec asked if kids would like the product. He was not sure if young people would use it. He did not see it as a big market. Barbara Corcoran also asked about competition.
She wanted to know if other companies were making similar products. Sandy and Roman admitted there were similar items. But they believed theirs was better. The sharks kept asking questions. But they were not satisfied with the answers.
Shark’s Responses and Final Deal
The sharks liked the idea. But they did not want to invest. One by one they dropped out.
Robert Herjavec was the first to go. He said he did not see a big market for the product. He did not believe kids would use it. Barbara Corcoran was next. She did not like the missing patent. She thought it was too risky. Kevin O Leary did not think the business would grow. He told them to keep it as a small home business. He did not invest. Daymond John liked the idea. But he thought it was too early.
He believed they needed more research. He was out. Kevin Harrington liked that they had sales. But he was also concerned. He thought the market was too small. He was out too sharks made an offer. Sandy and Roman left without a deal.
What Went Wrong With Mr. Poncho On Shark Tank?
Several problems stopped Mr Poncho from getting a deal. The biggest issue was the patent. The key part of the product was not protected. Other companies could copy it. This made the business risky. Another problem was market demand. Wireless headphones were becoming popular. The sharks worried that people would stop using wired headphones.
If that happened Mr Poncho would not be needed. The founders also lacked some key research. They were not sure about mass production costs. They did not have a clear long-term plan. The sharks saw too many risks. They decided not to invest.
Product Availability
Mr Poncho was a small sleeve for devices. It had a rubber cup for wrapping cords. It was designed to keep headphones neat. It was made for MP3 players and smartphones. At first, it was sold online. It was available on Etsy. It was also sold at craft fairs. The price was eighteen dollars. But over time demand dropped. Bluetooth headphones became common.
People no longer needed a way to store wired headphones. Sales slowed down. The company shut down in 2015. The product is no longer available.
Conclusion
Mr Poncho was a creative idea. It solved a real problem. Sandy and Roman worked hard on it. They wanted to make it a big business. They went on Shark Tank for help. But they did not get a deal. After the show the company faced challenges. The lack of a patent made things hard. The rise of Bluetooth made the product less useful. Sales dropped. The business shut down. Sandy and Roman moved on to new careers.
Sandy became a successful jewelry designer. Roman became a creative director. They both found success in other ways. Their Shark Tank journey did not end as they hoped. But they learned valuable lessons.
Hey there, it’s Andaleb Youns. I am a freelance content writer and am currently pursuing a BS in English Language and Literature. I have expertise in writing Blog Posts, social media content, and copywriting. I know how it feels to be a student and still be dependent on parents to fulfill even basic daily needs. This realization became apparent while watching Shark Tank. Although I started watching this show out of boredom, it proved to be an inspirational show. The show made me realize the importance of hard work, being independent, and of having a business of my own. I still look forward to it for entertaining and inspirational content.
