|SEASON 1 EPISODE 10|
|Pitch||protective cover for mp3 players that also keep headphones from getting tangled|
|Entrepreneur||Sandy Hyun and Roman Pietrs|
|Asked For||$50,000 for 25%|
|Status||Out of Business|
What is Mr. Poncho?
Back before AirPods and wireless headsets, what seems like another lifetime ago, but was less than a decade, people would regularly use headphones to listen to music on their smartphones and the now-defunct iPod. Anyone older than sixteen can remember how annoyingly they had a habit of getting entangled while in pockets and handbags. Unfortunately, this inevitably resulted in at least two minutes of untangling them before use. Mr. Poncho solves that in the form of a protective sleeve and headphones holder, keeping the listening device and earbuds cord neatly wrapped up and secure.
Who Owns Mr. Poncho?
Boyfriend and girlfriend duo Sandy Hyun and Roman Pietrs from New York are the co-founders of Mr. Poncho. Sandy is a jewelry designer and has been for many years. Roman is a part-time musician and graphic designer. Sandy continues to design and sell jewelry through her website. Roman worked as a Creative Director for Global Popstar Design, although his Facebook page indicates this as past tense. It’s not clear what he’s up to now. It’s also unclear if the two are still together.
Being a jewelry designer, Sandy had always had an artistic flair for design. Seeing a need to solve an everyday problem, she began to conceptualize the idea behind Mr. Poncho. When Sandy explained her design idea to Roman, he was on board immediately.
She came up with a sleeve cover, enhanced by a rubber cup. The user then wraps the headphone cord around the center of the cup and folds the edges back to keep it in place.
Sandy began making them herself, and with help from Roman, she sold them online and shipped the orders from their apartment.
Grossing around $45,000.00 over two years, they started to see the potential to scale; however, they were hoping to get an investment primarily to set up an office outside of their apartment. With this in mind, they started to look for an investor.
What Happened After Shark Tank Update
Is Mr. Poncho Still in Business?
Despite a year or so of more sales on Etsy post their Shark Tank appearance, Mr. Poncho did not survive, in large part due to a lack of seed funding. The product was a novelty rather than a growable business. With cord headphones heading the way of the VHS in the next few years, they would have had to pivot the company, in any case, to stay in business.