Pips & Bounce Net Worth Shark Tank Update 2025

Many people struggle to find a fun and active way to spend their nights out. So many bars and clubs offer the same old thing. Loud music, crowded dance floors, and overpriced drinks. This can leave people feeling bored or tired of the usual nightlife. They want something different. They want an experience they can share with friends, where they can laugh, play, and create memories together. But most cities don’t have many options beyond standard bars or restaurants.

This was the problem brothers Eugene and Michael Jung noticed in Portland, Oregon. They believed ping pong could bring people together in a new way. They opened a ping pong lounge called Pips and Bounce. It mixed drinks, food, and ping pong tables to create a unique night out. They wanted to bring people together around a game that everyone knew how to play.

They pitched this idea on Shark Tank Season 11, asking the sharks for a big investment to help them grow and franchise their lounge concept.

Pips & Bounce Net Worth Shark Tank Update 2025

Eugene and Michael Jung were looking for an investment of $500k in exchange for 10% equity in the company. At the time of the episode, they valued their company at $5 million. They did not secure a deal with any of the sharks. The investment adjusted the company’s net worth to remain at $5 million. After the show was aired, Pips and Bounce experienced a good boost in exposure. As per my rough estimate, the current net worth of Pips and Bounce is around $3.2 million.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Lori Greiner	Out	N/A	No
Kevin O’Leary	Out	N/A	No
Maria Sharapova	Out	N/A	No
Mark Cuban	Out	N/A	No
Daymond John	Out	N/A	No

Eugene and Michael Jung Backstory + Their Initial Pitch

Eugene and Michael Jung grew up playing ping pong together. The game was part of their childhood, and it strengthened their bond as brothers. Years later, they noticed that many of their friends still enjoyed playing ping pong. They realized ping pong was a game that almost anyone could pick up quickly. It was fun, social, and competitive. They wanted to turn this love for ping pong into a business idea that brought people together for a new kind of nightlife experience.

They decided to open Pips and Bounce in Portland. The lounge was designed to feel modern and welcoming. It had multiple ping-pong tables, comfortable seating, and a bar that served food and drinks. They offered leagues, parties, and events that made ping pong the center of the experience. It wasn’t just about playing a game; it was about sharing good times with friends. The brothers believed this concept could work in other cities too.

When they went on Shark Tank, Eugene and Michael confidently explained how their business worked. They shared that Pips and Bounce had been open for three years. During that time, they built a loyal customer base and hosted countless parties and events. They revealed their impressive sales numbers, saying they made $974,000 in their first year and $1.3 million in their second year.

They told the sharks they wanted $500,000 in exchange for 10% of the company. Their goal was to start franchising the concept and expand Pips and Bounce to other cities. They believed their unique idea had proven itself in Portland and were ready for the next step.

Queries + Shark’s Responses, and Final Deal

Kevin O’Leary was one of the first sharks to speak. He liked the sales numbers but questioned the low-profit margins. He asked the brothers why they were only making a 7% profit on sales. Eugene and Michael admitted that running a lounge came with high costs, like rent, staff wages, and supplies. Kevin said that if they were only keeping 7 cents on every dollar they earned, they weren’t ready to franchise.

He thought the business needed stronger profits to succeed with multiple locations. He decided not to make an offer.

Daymond John shared his thoughts next. He was honest about his feelings. He told the brothers he didn’t like ping pong at all. He said it wasn’t something he could get excited about or promote. Because of this, Daymond didn’t see himself as a good partner for Pips and Bounce. He chose to drop out.

Maria Sharapova, who was a guest shark on the episode, said she liked the idea of combining sports with social experiences. She thought it was creative and fun. But she worried that the market for a ping pong lounge was too niche. She wanted to see more growth or a clearer plan before investing. Maria decided not to offer a deal.

Lori Greiner was also concerned about the low profits. She said she liked the concept but believed it was too early to think about franchising. Lori said the company needed more time to prove it could maintain steady profits and attract more customers. Because of these doubts, Lori decided she was out too.

Mark Cuban shared his concerns last. He said he thought Eugene and Michael were passionate and hardworking. But he didn’t like how they valued their company. They based their valuation on the idea that they would open 500 franchises, each earning $100,000. Mark thought this plan was unrealistic. He told them it was too risky to invest in a business that hadn’t yet proven it could succeed outside of Portland. He also decided not to offer a deal.

In the end, none of the sharks were willing to invest. Eugene and Michael left the Tank without a deal, even though they shared a unique and exciting idea.

What Went Wrong With Pips and Bounce On Shark Tank?

One of the biggest problems for Pips and Bounce on Shark Tank was their profit margin. While their sales were impressive, their profits were low. They were only making 7% profit on total sales. That meant they had very little money left over after paying their expenses. The sharks thought that expanding a business with such thin margins would be dangerous. Franchising requires extra cash for marketing, training, and operations. The low profits made the business too risky.

Another issue was the valuation. Eugene and Michael valued their company based on a dream of opening 500 franchises. They said each one would earn $100,000. But they hadn’t opened a second location yet. The sharks felt the valuation was unrealistic. They wanted to see more proof that the business could succeed outside of Portland before investing.

Some sharks, like Daymond John, didn’t like the core idea. Daymond openly said he hated ping pong. If a shark can’t see themselves enjoying or promoting the product, they won’t want to invest. Maria Sharapova liked the creativity but worried that the market was too small. Lori Greiner also thought it was too soon to start franchising.

The combination of low profits, a high valuation, and doubts about the idea led all the sharks to pass on the investment. This left Eugene and Michael without a deal. They had to keep running their business on their own without the support of a shark.

Product Availability

Pips and Bounce is more than a product; it’s a place where people can go to have fun. The lounge is located in Portland, Oregon. Inside, customers find multiple ping-pong tables set up in a stylish space. There are cozy seating areas where friends can gather between games. The lounge also has a bar that serves a full menu of food and drinks. The cocktails even have ping-pong-themed names.

The atmosphere is casual and friendly. People can play casually with friends, join a league, or book tables for special events and parties.

The lounge is available for walk-ins and reservations. People can book tables by the hour. Prices depend on the time of day and day of the week. Private event packages are also available. The company’s website makes it easy for customers to see rates, check availability, and book online. They can also sign up for leagues or special tournaments. Pips and Bounce markets itself as a perfect spot for corporate events, birthday parties, or nights out with friends.

Currently, there is only one Pips and Bounce location. The brothers hoped to open more locations through franchising, but they haven’t expanded beyond Portland. The concept is unique because it combines a classic game with a modern social experience. Unlike many bars, Pips and Bounce encourages customers to interact through play instead of just sitting with drinks. This makes it stand out as a nightlife option.

What Happened To Pips and Bounce After Shark Tank?

After leaving Shark Tank without a deal, Eugene and Michael continued to run their original Pips and Bounce lounge in Portland. The business faced a tough challenge during the COVID-19 pandemic. Like many entertainment and hospitality businesses, they had to close temporarily. This period was very hard for them, as they couldn’t host games or serve customers in person. But the brothers were determined not to give up.

In August 2021, Pips and Bounce reopened its doors. They worked hard to make sure customers felt safe returning. They followed local health guidelines and adjusted their space to keep people comfortable. Slowly, customers started coming back to play ping pong, have drinks, and enjoy nights out again.

As of today, Pips and Bounce is still in business in Portland. There are no signs that the company has expanded to other cities. Their website is active and allows people to book tables, join leagues, and plan events. Reviews on Yelp and Google show that many customers are happy with their experience. People say they love the playful atmosphere and friendly staff.

Some reviews mention that it’s a great spot for a date or a fun night with friends. The lounge continues to bring people together through a game that almost everyone can enjoy.

Although the brothers haven’t grown their business beyond Portland, they have kept their original location thriving. They are still offering a unique alternative to the usual bar scene. The lounge continues to prove that ping pong can be a fun way to socialize, laugh, and create memories.

Conclusion

Pips and Bounce entered Shark Tank with a big dream. Eugene and Michael wanted to bring ping pong lounges to cities across the country. They pitched their successful Portland location and shared their vision for franchising. The sharks were impressed by the brothers’ passion and early sales. But they were worried about the low profits and high valuation.

Each shark shared concerns about the business model, market size, and financial health. In the end, the brothers left without a deal.

Even without an investment, Eugene and Michael didn’t give up. They continued to run Pips and Bounce in Portland. They survived the challenges of the pandemic and reopened their lounge in 2021. Today, the business is still welcoming customers who want a different kind of night out. Pips and Bounce remains a special place in Portland. It stands as proof that unique ideas can bring people together, even if they don’t land a deal on Shark Tank.