What Happened To Pan’s Mushroom Jerky After Shark Tank?

Pan’s Mushroom Jerky is a nutritious and sustainable snack created for a hungry world. Officially launched in 2018, this innovative snack brand offers a range of delicious plant-based jerky made primarily from shiitake mushrooms.

The original recipe for Pan’s Mushroom Jerky comes from the founder’s family, ensuring a satisfying experience for consumers.

Currently, the brand features several flavors, including Original, Zesty Thai, Applewood BBQ, Salt & Pepper, and Teriyaki.

Based in Vancouver, WA, Pan’s Mushroom Jerky falls under the food production category, delivering a unique umami taste and a satisfying meaty texture that appeals to health-conscious snackers.

🤑);- SparkCharge Shark Tank Update

Who Is The Founder Of Pan’s Mushroom Jerky?

Michael Pan is the founder of the innovative food startup Pan’s Mushroom Jerky. Drawing from a family recipe, Michael has successfully transformed this traditional dish into a thriving business.

With a background as an electrical engineer in Washington, he combines his technical expertise with entrepreneurial skills to enhance his startup’s growth.

Michael holds a Bachelor of Science (BS) degree in Electrical and Electronics Engineering from the University of Illinois at Urbana-Champaign. His experience working with large companies has equipped him with valuable business acumen, allowing him to navigate the challenges of running a startup effectively.

With a clear vision for the future, Michael is committed to expanding Pan’s Mushroom Jerky and promoting healthy, sustainable snacking options.

What Happened To Pan’s Mushroom Jerky After Shark Tank?

After appearing on Shark Tank, Pan’s Mushroom Jerky experienced a significant boost in sales. Prior to the show, the company was generating approximately $750,000 in sales annually.

However, following the episode, Michael Pan sold $650,000 worth of products within just 24 hours, leading to total sales of $1 million in only four days. Currently, their sales report indicates a growth of over 50% compared to the previous year, showcasing the impactful effect of the Shark Tank exposure.

As of August 2022, Pan’s Mushroom Jerky became available in 800 locations across the United States, with plans to expand to 1,000 locations by November. The company appeared in Season 13, Episode 3 of Shark Tank and participated in the 2022 CoLab class, similar to the Oat Haus Company.

In addition to their signature mushroom jerky, they have launched new products, including a Merchant T-shirt and a stainless steel water bottle. Every six months, they are rolling out their mushroom products to different supermarkets.

Mark Cuban even announced via video that his two favorite Shark Tank companies, Snacklins and Pan’s Mushroom Jerky, have been selected for distribution in H-E-B grocery stores across Texas.

Pan’s Mushroom Jerky Shark Tank Update

Pan’s Mushroom Jerky received an overwhelmingly positive response on Shark Tank, with Mark Cuban serving as a valuable mentor for the business.

Following the episode’s airing, many customers expressed their enthusiasm for the product, leading to a surge in sales. On November 25, 2020, Michael Pan shared a video highlighting the positive feedback they received from consumers.

At that time, Michael mentioned that his small team was responsible for mushroom manufacturing, packaging, and customer support, with plans to expand both the team and the warehouse soon.

The day the Shark Tank episode aired, the company reported nearly $1 million in sales within just a week. By January 10, 2021, they had surpassed the 12,000 order mark, followed by over 18,000 orders by January 25, 2021.

Their website noted that after the Shark Tank appearance, they were receiving more than 375 orders every minute, culminating in 21,000 completed orders by January 28, 2021.

In 2021, the company’s annual revenue soared to $3 million. By October 2022, Pan’s Mushroom Jerky was available in approximately 3,500 retail stores across the United States and Canada, including major retailers such as Kroger, Whole Foods, Walmart, Fred Meyer, QFC Grocery, and Foxtrot.

As of now, their annual revenue has reached nearly $5 million, marking significant growth since their Shark Tank debut.

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

Michael Pan, the founder of Pan’s Mushroom Jerky, pitched his innovative product to the sharks on Shark Tank. He sought $300,000 in exchange for 10% equity in his company, which would value it at $3 million.

During the pitch, the sharks engaged in extensive discussions about the product’s growth potential and its features. Michael provided detailed insights into his business plans, addressing the sharks’ questions and concerns.

Ultimately, Mark Cuban saw the potential in Pan’s Mushroom Jerky and decided to invest. He offered $300,000 for 18% equity, valuing the company at approximately $1.66 million.

This deal marked a significant step forward for the brand, positioning it for further growth in the competitive snack market.

What Is The Pan’s Mushroom Jerky Net Worth?

After Mark Cuban’s investment, Pan’s Mushroom Jerky was valued at approximately $1.66 million. Following its appearance on *Shark Tank*, the company experienced significant sales growth, leading to an increased net worth of about $3.5 million.

The brand’s upward trajectory suggests that by 2025, its valuation could reach as high as $8.8 million. Michael Pan’s net worth can be largely attributed to the number of shares he holds in the company, reflecting its promising future in the snack market.

Yes, Pan’s Mushroom Jerky is still in business as of September 2022.