The increasing demand for vegan alternatives to meat products has given rise to several new brands. One such brand is Pan’s Mushroom Jerky. Yes, it’s the same brand that appeared on Shark Tank season 12.
For those who don’t know Pan’s Mushroom Jerky is an alternative option for beef jerky. This delicious product is the creation of Michael Pan, who secured a deal from Mark Cuban on the show.
Some of you must be wondering how the company is doing after Shark Tank. We will cover all that details in the post below.
What is Pan’s Mushroom Jerky?
Pan’s Mushroom Jerky is a healthy and sustainable substitute for beef jerky. It is specially made for vegan people who are opposed to eating traditional meat products.
The company started its operation in 2018. The product was introduced in the market with four new flavors. At present, they offer a variety of plant-based mushroom jerks. Some of the popular products are Salt & Pepper, Applewood BBQ, Zesty Thai, Teriyaki, and Original Mushroom Jerky.
The products are made from shiitake mushrooms, which give them an umami flavor and meaty texture.
Who is the founder?
Pan’s Mushroom Jerky is founded by Michael Pan. Although he is of Malaysian descent, he is based in Vancouver, Washington.
As per online sources, he completed his high school graduation from Starkville High School. Later he attended the University of Illinois Urbana-Champaign, where he studied electrical and electronics engineering.
After completing his graduation in 2001, he started working at Raymond Professional Group. Later he joined Motorola, the same company where he interned before his graduation.
At Motorola, he was promoted to be the leader of the design team. He was transferred to Continental a few years later. After six years, he became the vice president of an IT firm called Fancred.
Founding The Company
When Michael visited Malaysia to meet his family members, he realized that many of them were vegetarians. They introduced him to a variety of plant-based dishes which tasted good. However, he liked the mushroom jerky the best.
This inspired him to come up with his vegan version of mushroom jerky in the US. He used shiitake mushrooms to provide a vegan alternative to beef jerky. He set up his company in 2018 and generated revenue of $755,000.
Pan’s Mushroom Jerky On Shark Tank
Michael Pan entered Shark Tank in 2020 to seek funds for his company. He proposed a deal of $300,000 for 10% equity in his company. By the time, he appeared on Shark Tank, the product was available at over 500 outlets in the US.
The Sharks were pretty impressed with the product and Michael ended up with a deal from Mark Cuban. For those who don’t know Mark Cuban is a vegan himself, so he knew the potential of the product.
After the airing of the episode, the company made sales of $650,000, which went up to $1 million in a week.
At present, the company’s net worth is around $1.7 million.
1. Is Pan’s Mushroom Jerky successful?
Yes, Pan’s Mushroom jerky stood out to be one of the most successful Shark Tank products for the owner Michael Pan, and the investors backing up the business. It is one of the most popular vegan jerky companies.
2. How is Pan’s mushroom jerky doing now?
Mark Cuban, who invested in the business, took to his Instagram to share updates about the business saying that besides selling the products online, it is now available in select HEB locations too.
3. Is mushroom jerky healthy for you?
Mushroom is packed with a lot of nutrients and using and eating it in jerky form is not only a great source of nutrients but a great option for vegans too.