Pips And Bounce update: What happened to Eugene and Michael Jung’s business after Shark Tank?

Eugene and Michael Jung appeared on Shark Tank season 11, episode 13, hoping to convince one of the judges to invest in their business, Pips and Bounce. The two brothers decided to pitch a ping pong lounge and party business, a social club in Portland, Oregon. Initially, the idea was to expand a business model that merged three aspects: sports, entertainment, and social interaction.

Seeking an investment of $500,000 for 10% equity of their business at a $5 million valuation, Eugene and Michael could not secure a deal. According to the sharks, the concept was too new for a franchise, and only 7% profit seemed alarming, so they all backed out.

As of January 2024, the club is thriving and has been successfully running for the past three years at the brick-and-mortar Pips and Bounce location in Portland. Post-show, they made $974,000 in sales in the first year and $1.3 million in the second, according to Shark Tank Recap.

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Pips and Bounce on Shark Tank: Journey updates & current status

The idea behind Pips and Bounce is unique: it is a hangout place for enthusiastic ping-pong players just like the Jung brothers. The venue also serves drinks and food, making it a casual place to socialize and meet new people.

Moreover, the guests can book different events, such as birthdays or corporate events at the club. Private room bookings, a ping pong lounge for matches, and the availability of extra space for large groups are some of the many facilities provided at Pips and Bounce.

On Pips and Bounces' official website, the Jung brothers share their journey since their appearance on Shark Tank:

"In 2012, we started with pop-up ping pong parties across Portland. A year & a half later, with the lessons learned from dozens of events & the courage inspired by hundreds of fans, we went all-in to build the permanent ping-pong paradise that Portland deserves. Thanks for joining us on this amazing journey!"

Due to their success, the Jung brothers decided to expand their model. Through 130 contributors, the Pips and Bounce owners raised $51,059 through the Kickstarter campaign in 2019, according to Shark Tank Talks.

However, they faced hurdles while running their business after the global pandemic. During the 2019 quarantine, the brothers decided to temporarily close their club with the intention of reopening it by the end of 2020. However, they couldn't reopen.

By mid-2021, Eugene and Michael Jung had applied for a liquor license and were able to reopen under strict precautionary measures. Entry wasn't allowed without face masks, ID cards, and proof of vaccination. It was made sure that paddles and pong balls were sanitized, and people were encouraged to hang out, but only if they practiced social distancing.

As of 2024, the rejected Shark Tank business idea is doing pretty well, but the plan of expansion has been put on pause. As per Gazette Review, the Jung brothers are working hard to open a second center soon after revering from the loss they faced during the pandemic.

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To see how Pips and Bounce started, stream Shark Tank season 11, episode 13 on ABC network, Prime Video, or Hulu. Other streaming platforms include Apple TV, Sony Live, and NBC.

You can also watch clips from the show on Shark Tank's official YouTube channel.