Pips & Bounce Net Worth 2026 Update
Pips & Bounce is no longer in business as of 2026 — the ping pong social club announced it was winding down in July 2024 and closed its Portland location after a decade in operation.
Pips & Bounce, a ping pong social club created by brothers Michael and Eugene Jung, aimed to bring people together through a unique entertainment experience.
The business gained national attention when the brothers pitched their company on Shark Tank in Season 11, asking for a hefty $500,000 investment for 10% equity. Despite their enthusiasm and vision for franchising, the Sharks weren’t convinced, and they left without a deal.
But where is Pips & Bounce today? Has their net worth grown despite the setback? Let’s dive into their journey, finances, and current business status.
Who Are the Founders of Pips & Bounce?
Michael and Eugene Jung grew up playing ping pong in their basement, and their childhood passion ultimately led to the creation of Pips & Bounce, a Portland-based social club centered around ping pong. Michael had a background in business development and marketing for international law firms, while Eugene worked in clean energy policy.
Their mix of business acumen and passion for bringing people together fueled their vision for Pips & Bounce.
“We wanted to create a space where people could enjoy the nostalgia of childhood fun while socializing over great food and drinks,” – Michael Jung
The Shark Tank Pitch: High Stakes and Tough Questions
During their Shark Tank appearance, the Jung brothers presented their business model, emphasizing their goal to franchise Pips & Bounce across the country. They revealed their financials:
- Year 1 revenue: $974,000
- Year 2 revenue: $1.33 million
- Year 3 revenue: $950,000
- Profit margin: 7%
While their revenue seemed solid, the Sharks raised concerns about scalability and profitability. Kevin O’Leary pointed out that to attract franchisees, they needed a minimum of 14% pre-tax profit, significantly higher than their existing 7% margin.
Furthermore, the brothers had just signed a lease for a second location in Minneapolis, Minnesota, but the Sharks believed they needed to prove their model worked before expanding.
Despite their passion and business experience, the Sharks passed on investing, with the main concern being the low profitability and premature push for franchising.
Pips & Bounce Pitch on Shark Tank (Quick info card)
| Company name | Pips & Bounce |
| Product | Ping-pong social club |
| Episode | Season 11 Episode 13 |
| Founders | Eugene Jung and Michael Jung |
| Asked for | $500,000 for 10% Equity |
| Final deal | No deal |
| Shark | None |
| Location | Portland, Oregon |
Also read: More than 50% of Shark Tank Deals Fall Through, Here is Why
What Happened After Shark Tank? Pips & Bounce’s Growth and Setbacks
Even though they didn’t secure a deal, Pips & Bounce saw a surge in interest post-Shark Tank. The exposure led to increased traffic at their Portland location, and they moved forward with launching their Minneapolis site as planned.
However, the COVID-19 pandemic hit entertainment venues hard, and Pips & Bounce was no exception. They had to temporarily shut down operations, which significantly impacted their revenue. Despite these challenges, the business managed to adapt by offering private event bookings and pop-up experiences.
By 2024, Pips & Bounce shifted its focus from rapid franchising to perfecting its existing locations, ensuring profitability and brand sustainability. They continue to generate revenue through corporate events, parties, and casual walk-ins.
How Much Is Pips & Bounce Worth Today?
As of 2026, Pips & Bounce is no longer in business. In July 2024 the founders announced that the lease and business were winding down, the Portland location closed, and its fixtures and furniture were sold off that October. No current net-worth estimate applies to the now-closed venture, though the club generated roughly $1 million a year in revenue at its peak.
Did the Sharks Miss Out? A Look at the Business Potential
Had the Sharks invested, would they have seen a return?
Given the challenges of the pandemic and the struggles of physical entertainment venues, their hesitancy was justified. However, if Pips & Bounce successfully stabilizes its revenue streams and eventually revisits franchising, it could still become a lucrative investment opportunity.
Final Thoughts
While Pips & Bounce didn’t land a Shark deal, they continued to evolve and remained a popular Portland social destination until the business closed in 2024. Their ability to adapt post-Shark Tank showcases their resilience.
The future will tell if they can scale their business into a national franchise, but for now, Pips & Bounce is remembered as a unique and much-loved concept by Portland’s ping pong lovers.
Would you visit Pips & Bounce if they expanded to your city? Let us know in the comments!
TL;DR
Pips & Bounce, a ping pong social club, appeared on Shark Tank but left without a deal. The business carried on for several more years, but announced it was winding down in July 2024 and closed its Portland location for good, ending a decade-long run.
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