Mr. Poncho Device Case Update | Shark Tank Season 1

Sandy Hyun identified a common problem with everyday items: corded headphones on MP3 players and smartphones often become a tangled mess when stored. To address this, she and her co-founder, Roman Pietrs, created Mr. Poncho, a case that organizes the wires neatly. Will the sharks be drawn to the convenience of their product? Find out in our Mr. Poncho update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to Mr. Poncho after Shark Tank.

Sandy and Roman entered Shark Tank Season 1 to pitch their creative innovation, Mr. Poncho seeking $50,000 for 25% equity. Ultimately, they left without securing a deal.

In terms of a Mr. Poncho update, the company went out of business in 2015 due to the lack of a patent and the rise of Bluetooth headphones. The founders have since moved on to different career paths.

Shark	Result
Barbara Corcoran	No offer
Kevin O’Leary	No offer
Kevin Harrington	No offer
Daymond John	No offer
Robert Herjavec	No offer

Shark Tank Mr. Poncho Pitch

• Entrepreneurs: Sandy Hyun and Roman Pietrs
• Business: Case for smartphones and MP3 players with headphone storage
• Ask: $50,000 for 25% equity
• Result: No deal
• Shark: None

Sandy and Roman kicked off their pitch with a lively musical introduction that immediately captured the sharks’ attention.

They introduced Mr. Poncho, a stylish solution to tangled headphones, and sought an investment that would help them scale production and reach a wider market.

Mr Poncho is a headphone accessory designed to prevent tangled cords. It features a ring mechanism to wrap the cord around and a protective sleeve to safeguard the cable from damage.

This simple design allows for easy storage and eliminates the frustration of untangling knotted cords, making it compatible with most headphones.

The sharks were interested and requested samples. Kevin O’Leary asked about the patent status.

Roman explained that they have a patent pending on the unit but not on the crucial cup part of the design. 

Despite this, the sharks inquired about sales and learned that the couple had sold over 5,000 units.

Kevin Harrington asked about production costs and retail pricing. With a production cost of $3 and a retail price of $18, the product was priced to sell and turn a profit.

Daymond John questioned the cost of mass production, which Hyun estimated would be “under $1,” though they hadn’t thoroughly researched it.

Robert Herjavec and Barbara Corcoran exited the negotiations due to the lack of a patent on the essential part.

Daymond John also declined, feeling the product was too early in its development. Kevin O. and Kevin H. followed suit, seeing limited profitability without the patent.

With all the sharks out, Sandy and Roman left without a deal.

What happened next for their company? Keep reading our Mr. Poncho update to find out.

Shark Tank Mr. Poncho Update

Shortly after the show aired, Sandy and Roman encountered significant challenges with Mr. Poncho.

Despite the overwhelming exposure from the show, our Mr. Poncho update found that the absence of a patent for their core product, the rubber cup, hindered their ability to scale the business.

While they initially found success on Etsy, the rise of Bluetooth headphones rendered their product increasingly obsolete.

By 2015, it was clear that Mr. Poncho could no longer compete in the market, forcing the company to close.

Our Mr. Poncho update found that Sandy and Roman successfully pursued separate career paths.

Sandy started a jewelry line that flourished, generating approximately $1 million in annual revenue through major retailers such as Anthropologie and Neiman Marcus.

Roman, on the other hand, embarked on a design career, eventually becoming Creative Director at Global Popstar Design.

This looks to be our final Mr. Poncho update.

Would you like to learn about the other companies featured in Season 1, Episode 10? Follow the links below for our other company updates from the episode. 

• The Bobble Place Update
• The Uro Club Update
• JumpForward Update

Before you go, check out our Shark Tank Season 1 page for more updates