Wanna own a piece of Popeil’s Pocket Fisherman?

RONCO is going public. You know RONCO, it’s the company that peddles complete crap on the Tee Vee. Ron Popeil is the owner/huckster.

 

Newser-

Ronco Brands—purveyor of the Veg-O-Matic, EZ-Store Rotisserie, and Beef Jerky Machine—is going public in a way befitting an infomercial king. The Wall Street Journalreports the company founded by inventor Ron Popeil in the 1960s is trying to sell $30 million in stock for its initial public offering. But it’s not doing so through a Wall Street firm or the stock exchange, according to Fortune. Instead, Ronco is selling stock directly to consumers on its website. But wait, there’s more! If you buy stock—$6 per share; 20 shares minimum—you’ll get a 10% discount on your next Ronco purchase, CBS News reports. Buy more than $5,000 worth of stock, and Ronco will throw in a rotisserie oven.

But Ronco stock might not be the great deal it appears. The company claims to have sold more than $2 billion worth of products since its founding and values itself at $110 million or so. But it reported revenue of just $9 million in 2015 and a net loss of $2.7 million in 2016. It’s currently $17 million in debt, and auditors have “substantial doubts” it can even continue to exist. This isn’t anything new for Ronco. The company went into bankruptcy protection after going public in 1969. Popeil bought it back in the 1980s only have have it go back into bankruptcy protection in 2007. Ronco has gone through multiple owners in recent years. And it appears now’s the chance for dedicated fans of the Turbo Food Dehydrator to add their names to that list.

17 Comments on Wanna own a piece of Popeil’s Pocket Fisherman?

  1. Who, in their right mind buys this shit? Rons going on 82 this may, at it sounds like his IPO through his offspring, and probably unbeknownst to him. At his age he’s probably developing a drool-o-matic, or an automatic depends changing table or an auto colostomy drainer. Whatever. Pppfft.

  2. Without the Veg-O-Matic there never would’ve been the Bass-O-Matic. I could never understand why people bought this cheap crap but like P.T. Barnum said, “There’s a sucker born every minute.”

  3. Act now and we will issue a second stock certificate for FREE – just pay separate shipping & handling

  4. Yes, the Pocket Fisherman and the Inside-the-Egg Scrambler are crap. But if you don’t own one of his Showtime rotisseries, that’s your loss. Best damn way to cook a chicken I’ve ever found. Just don’t twaddle it…

  5. I worked for VISION 2000 And we had some terrific products. VISION 2000 was a company of RONCO’s that had MR. MICROPHONE, and several others that were fun to use. THE Smokeless Ashtry would probably still be good today.

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