Pips & Bounce, a ping-pong social venue founded by brothers Michael and Eugene Jung, appeared on Shark Tank in 2020 but failed to secure a deal. The business gained popularity for offering a fun, interactive environment centered around ping-pong.
Despite its initial success, Pips & Bounce closed its doors in 2021 due to financial challenges exacerbated by the COVID-19 pandemic. The company did not secure major crowdfunding or outside investors and has since gone out of business.
As of 2021, Pips & Bounce had no acquisition offers and no reported net worth, marking an end to its operations.
Pips & Bounce Net Worth
| Estimated Net worth | $5 million (2020) Business Valuation |
| Annual Sales Revenue | Not available |
| Lifetime sales | $3.5 million (2022) |
| Investor | None |
| Founders | Eugene Jung and Michael Jung |
| Employees | Around 25 |
Pips & Bounce Pitch on Shark Tank
| 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 |
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Pips & Bounce Founders
Pips & Bounce was founded by Eugene Jung and Michael Jung in 2013. These two siblings had a keen interest in ping-pong playing since their childhood. Their passion led them to organize pop-up ping-pong parties around Portland. Later on, this turned into a business. Pips & Bounce’s founders Eugene Jung and Michael Jung’s current net worth is unknown as the business is no longer functioning.
Key accomplishments
| Year | Accomplishment |
| 2020 | They appeared on Shark Tank season 11. |
| 2021 | Re-opening after the pandemic. |
Conclusion
Some companies that appear on the show have not achieved great success, and Pips & Bounce is one of them. Sometimes businesses don’t succeed for many reasons. Sometimes, the deal falls through after the founders say yes on camera. Or, as you’ll see, sometimes things happen to the founders themselves, and they choose to abandon the business. Anything is possible. However, Pips & Bounce went out of business in 2022. And the product is no longer available in the market.
