Pan’s Mushroom Jerky Update | Season 12

Michael Pan loves jerky so much that he created his own line of it. His jerky is set apart from the rest, however, as his jerky is made with mushrooms! Will his innovative snack product earn a deal on Shark Tank Season 12? Find out in our Pan’s Mushroom Jerky update!

Shark Tank Pan’s Mushroom Jerky Update

Pan's Mushroom Jerky Update

  • Entrepreneur: Michael Pan
  • Business: Mushroom-based jerky
  • Ask: $300,000 for 10% equity
  • Result: $300,000 for 18% equity
  • Shark: Mark Cuban

Pan’s Mushroom Jerky appeared on Shark Tank Season 12. Founder Michael presented his vegan-friendly mushroom-based jerky to the sharks, who were all impressed at how much it tasted like a meat-based jerky.

Mushroom Jerky
Pan's Mushroom Jerky

Made from shiitake mushrooms, Pan's Mushroom Jerky delivers a delicious umami taste and satisfying meaty texture that herbivores crave and carnivores love.

We earn a commission if you make a purchase, at no additional cost to you.

After the sharks finished trying the jerky, Michael shared that by the end of 2020, he expected to do $1.5 million in sales, and was currently at $620,000 on the year.

Further, in 2018 the company had $300,000 in sales, and in 2019 $755,000 in sales.

Meanwhile, Pan’s Mushroom Jerky is only operating at a 10% profit margin. However, all of this was enough to interest guest shark Blake Mycoskie, Lori Grenier, and Mark Cuban.

First to jump in were Blake and Lori, who teamed up to give Michael his first offer of $300,000 for 30% equity.

Additionally, Mark followed quickly behind, offering $300,000 for 25% equity.

Because Michael didn’t want to give up too much equity, he countered. After some negotiating, he secured a deal with Mark for $300,000, with 18% equity in Pan’s Mushroom Jerky.

What happened to Michael’s company after the tank? Keep reading our Pan’s Mushroom Jerky update to find out!

Research for our Pan’s Mushroom Jerky update revealed great news! After airing on Shark Tank, Pan’s Mushroom Jerky sold $650,000 worth of jerky within just 24 hours. Then, a few days later, Michael sold over $1,000,000 in mushroom jerky.

It seems Michael has been quite successful after landing a deal with Mark Cuban.

Further, our Pan’s Mushroom Jerky update research found that he has since launched in Whole Foods locations throughout Oregon, Washington, Southern California, Arizona, Nevada, and Hawaii. The product is also available at HEB throughout Texas.

Michael has expanded his list of flavors and added some new merchandise. Products are available on the Pan’s Mushroom Jerky website and on Amazon.

For updates on the other products featured in Season 12 Episode 6, be sure to check out the links below:

For even more Shark Tank product updates, be sure to check out our Season 12 products page!

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Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!