Pan's Mushroom Jerky Shark Tank Update

Pan’s Mushroom Jerky Shark Tank Update

Pan’s Shiitake Mushroom Jerky is plant-based jerky. It has a great umami taste with an enjoyable texture. This exceptional combination is the outcome of a cherished family recipe that has been passed down for decades.  It’s high in fiber, vitamin D, kosher, paleo-friendly, delicious, and soy and gluten-free,

Pan’s Mushroom Jerky appeared on Shark Tank in November 2020. After it aired in Shark Tank Season 12, Episode 6, the company sold almost $1 million worth of jerky in the first week. 

Mark Cuban made a deal with the company for $300,000 in exchange for 18% equity in the business. The company has since expanded its reach and is now sold in over 900 retail stores in the U.S., including H-E-B grocery stores in Texas. Read on as we discuss this topic in detail. 

Pan’s Mushroom Jerky Shark Tank Profile

Pan’s Mushroom Jerky Shark Tank

Here is a quick overview of the Pan’s Mushroom Jerky update. It will help you to get a quick glance at Pan’s Mushroom Jerky Shark Tank update

Name of the companyPan’s mushroom jerky.
FounderMichael Pan.
HeadquartersVancouver, Washington, United States.
ProductsVegetarian, Shiitake Mushroom Jerky, Gluten-Free
Shark Tank EpisodeS12, E6
Appearance DateNovember 20th, 2020
Investment Asked For$300,000 For 10% shares
Final Deal$300,000 For 18% shares
SharkMark Cuban
Business StatusStill in Business
WebsitePan’s Mushroom Jerky
Secured dealsWhole Foods, Krogers, and Walmart
Net Worth$3.5 m approximately
Social Media handleLinkedin
Place of productionVancouver, WA
Ingredients for making Pan’s mushroom snacksdried organic shiitake mushrooms, avocado oil,  plus organic coconut sugar, and other ingredients
Watch on Amazon Prime Video
Buy on AmazonZesty Thai, Teriyaki Mushroom Jerky, Dried Mushrooms Shitake Jerky
Positive ReviewsHealthy and tasty snack option.

Was Pan’s Mushroom Jerky on Shark Tank? 

Yes, Pan’s Mushroom Jerky was featured on Shark Tank, captivating both investors and viewers with its innovative approach to plant-based snacking.

In Season 12 Episode 6 of Shark Tank, Michael Pan seeks a $300,000 investment in his mushroom jerky’s business, Pan’s, offering a 10% stake. Initially, Pan faced challenges in getting his mushroom jerky into stores due to skepticism about the concept. Inspired by his cousin’s search for tasty and filling snacks, Pan created mushroom jerky. 

The Sharks showed keen interest, highlighting the potential of plant-based food businesses. Mark Cuban offered $300,000 for a 20% stake, while Lori Greiner and Blake Mycoskie proposed $300,000 for a 30% share. Negotiations continued, with Pan countering at 15% and Cuban at 18%. 

Did Pan’s Mushroom Jerky Get a Deal on Shark Tank?

Yes. After discussions and inquiries about the business’s growth potential, Mark Cuban decided to invest. Cuban made an investment of $300K in the company, valuing it at $1.66 m for an 18% equity share in exchange.

What Happened To Pan’s Mushroom After Shark Tank?

After it made its debut in Season 12 Episode 6 of Shark Tank, following its appearance, the company experienced a surge in sales. Here are details of what happened to  Pan’s Mushroom Jerky after Shark Tank.

Mark Cuban’s involvement proved to be a game-changer for Pan’s Mushroom Jerky, propelling it to new heights of popularity. Generating $650,000 in revenue within 24 hours and nearly $1 million within a week. 

Since then, Pan’s Mushroom Jerky has established production in Portland, Oregon, and can now be found in 1,000 stores across the US.

What Happened To Pan's Mushroom After Shark Tank

By June 2021, Pan’s Mushroom Jerky boasted an annual revenue of $3 million, and its products secured placements in over 3500 retail locations, including notable giants like Krogers, Walmart, and Whole Foods, by July 2022. 

Pan’s Mushroom Jerky, a standout Shark Tank product, remains accessible online and in certain stores. The show’s exposure propelled sales and facilitated retail expansion. 

As a plant-based alternative to beef jerky, it resonates with health-conscious consumers seeking nutritious snacks. Pan’s Mushroom Jerky’s ongoing triumph ensures its place as a cornerstone in the plant-based snack market for the foreseeable future.

Impressive Success of Pan’s Mushroom Jerky After Shark Tank

The success of Pan’s Mushroom Jerky on “Shark Tank” suggests that Mark Cuban would be an excellent business advisor. A lot of people have bought this mushroom after hearing positive feedback on Shark Tank.

The appearance of Pan’s Mushroom Jerky on Shark Tank helped increase sales. With the backing of Mark Cuban and the exposure gained from Shark Tank, Pan’s Mushroom experienced a significant boost in its distribution channels. 

The company secured partnerships with major retail stores across the United States and Canada, expanding its reach to a wider customer base.

The company reached the twelve thousand order milestone on January 10, 2021, and the eighteen thousand order milestone on January 25, 2021. The company claims on its official page that after its appearance on the Shark Tank’s S12E6, it began receiving 375 or more orders each minute. On January 28, 2021, they had finished 21 thousand orders.

This company’s yearly revenue has increased to $3 m by 2021. As of October 2022, 3500 retailers across the USA and Canada stock this mushroom product. 

Stores like Kroger,  Walmart, Whole Foods, Fred Meyer, Grocery, QFC, Sprouts, Foxtrot, and many others fall under this category. Its annual income is rapidly approaching $5 million at this point.

Additionally, this company introduced the Merchant T-shirt and Stainless Steel Water Bottle as their new products. They have been consistently expanding the availability of their mushroom products to various supermarkets every six months.

In a video announcement, Mark Cuban revealed that two of his preferred companies from Shark Tank, Snacklins and Pan’s Mushrooms Jerky, have secured spots in ‘H-E-B grocery’ stores across Texas.

What’s The Net Worth Of Pan’s Mushroom Jerky?

After receiving an investment in Shark Tank, Michael Pan’s net worth soared to $1.66 m. With substantial sales growth, Pan’s Mushroom Jerky today net worth has now reached $3.5m. The company’s continuous expansion suggests a projected valuation of $8.8m by 2025. Michael Pan’s ownership of shares contributes to his total net worth.

What’s The Net Worth Of Pan’s Mushroom Jerky

Pan’s Mushroom Jerky Sales Data

Here is a table showing Pan’s Mushroom Jerky’s sales data from the year 2018 to 2022.

    YearSales data
2018$300,000
2019$755,000
2020$ 1 million in sales within a week 
$2.3 million in sales by the end of 2020
2021$1.66 million annual sales
2022$5 million annual sales

Is Pan’s Mushroom Jerky Profitable Now?

Yes, In 2021, Pan’s Mushroom Jerky achieved an impressive annual revenue of $3 million. As of September 2022, Pans Mushroom Jerky is still actively operating and has expanded its reach to 3500 retail stores across the United States and Canada. 

With its continuous growth, the company is now on the verge of hitting an annual revenue of nearly $5 million.

Is Pan's Mushroom Jerky Profitable Now

Appearing On Shark Tank

Since appearing on Shark Tank, Pan’s Mushroom has faced some challenges, including-

  • Difficulty fulfilling orders: According to the company’s website, they were not able to fulfill all 33,000 orders they received after the Pan’s Mushroom Jerky Shark Tank episode aired.
  • Increased competition: Pan’s Mushroom Jerky was one of the first companies to offer vegan jerky made from mushrooms. There are now several other brands in the market offering similar products.
  • Supply chain issues: Like many other businesses, Pan’s Mushroom Jerky has faced supply chain issues due to the COVID-19 pandemic.
  • Trust Issue: Additionally, some people have questioned whether the product contains mushrooms, as the texture is very similar to meat. Further, some customers have mentioned that the jerky is too sweet for their liking.
If you’re interested in more Shark Tank updates, be sure to check out our articles on SparkCharge and Bambooee. Our SparkCharge Shark Tank update features the innovative portable charging solution that impressed the Sharks and secured a deal. Additionally, our Bambooee Shark Tank update highlights the eco-friendly and reusable bamboo paper towels that caught the attention of the investors. Dive into the inspiring journeys of these entrepreneurs and discover their experiences on Shark Tank.

Final Words

Pan’s shiitake mushroom Jerky is a plant-based snack according to Michael Pan’s family recipe. The product is vegan, Kosher, paleo-friendly, gluten and soy free. 

This product comes in four flavors: Original, Applewood BBQ,  Zesty Thai & Pepper, and Sea Salt. The company has secured partnerships with major brands such as Walmart, Whole Foods, and Kroger, and it is sold in over 3,500 retail locations. 

After appearing on Shark Tank, Pan’s company sold $1 million worth of jerky within four days and has almost reached $5 million in annual sales. Pan’s Mushroom Jerky is a delicious and healthy snack that you can feel good about eating. Try it today!

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