Pan’s Net Worth Shark Tank Update 2025

Discovering appealing healthful snacks is never easy. While jerky’s flavor and texture appeal to many, there aren’t many good options for vegans, vegetarians, or even people attempting to reduce their meat intake. Pan’s Mushroom Jerky fills that need. 

The founder, Michael Pan, recognized the market demand for a plant-based snack that could replicate the flavor and feel of real meat using no meat. With shiitake mushrooms as the only ingredient, he produced a mushroom-based jerky that has all the rich flavor and chewy texture of regular jerky.

Michael pitched his novel snack to the sharks in Season 12 of Shark Tank and asked for $300,000 in exchange for 10% of his business. Did the entrepreneur get a deal on Shark Tank? Check out our Pan’s update!

pan’s Net Worth Shark Tank Update 2025

Michael Pan asked for a $300k investment in exchange for 10% equity in his company. This meant he valued his company at $3 million. He made a deal with Mark Cuban for $300k in exchange for 18% of his company. This new deal valued his company at $1.67 million. After the show aired, Pan’s Mushroom Jerky saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Pan’s Mushroom Jerky is about $2.23 million.

Michael’s business took off when he appeared on Shark Tank. Within 24 hours of the episode airing, Pan’s Mushroom Jerky sold $650,000 worth of jerky, demonstrating the high demand for his distinctive product. In less than a week, sales exceeded $1 million.

Pan’s Mushroom Jerky is still going strong today. Because of his product line expansion, Michael is currently available for purchase at Whole Foods stores throughout Oregon, Washington, Southern California, Arizona, Nevada, and Hawaii. It can be found on Amazon, the company website, and HEB stores in Texas. This broad accessibility has contributed to the company’s ongoing expansion and success.

Yes, on Shark Tank, Michael Pan could close a deal. After a flurry of vigorous talks, Mark Cuban committed $300,000 in exchange for 18% equity. Michael thought that Mark’s plan was the greatest fit after weighing the offers from the sharks, even if at first he had wanted to keep the share percentage lower.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Mark Cuban	1# $300,000 for 25% equity 2# $300,000 for 18% equity	$300,000 for 15% equity	Yes
Lori Greiner and Blake Mycoskie	$300,000 in exchange for 30% equity	N/A	No
Kevin O’Leary	Out	N/A	N/A
Daymond John	Out	N/A	N/A
Lori Greiner	$300,000 for 15% equity	N/A	No

Pan’s Shark Tank pitch

Michael Pan’s trips to Malaysia served as the source of inspiration for Pan’s Mushroom Jerky. He tried a tasty and nutritious snack made of mushrooms as he was spending time with his family. This gave rise to creating a vegan-friendly and meat-loving jerky substitute. In the beginning, Michael had to overcome many obstacles, such as persuading others that mushroom jerky could taste delicious and mastering the texture. But he could fill a void in the market by creating a product with passion and perseverance.

With confidence, Michael showed the sharks his mushroom jerky and described how it had a rich umami flavor that appealed to both vegetarians and carnivores. By the end of 2020, sales of Pan’s Mushroom Jerky are expected to reach $1.5 million, up from $620,000 in the previous year. His profit margins were only about 10%. The sharks were taken by the idea and impressed by how much the jerky tasted like actual meat.

Every shark had their own inquiries concerning the products: 

Blake Mycoskie enquired about the difficulties of growing the company. Although the method is labor-intensive, Michael clarified he has plans to improve manufacturing efficiency.

Blake further questioned the cost and the price of the product. Michael responded they make it for $1.67 and sell it between $7.99 and $8.99. 

Lori Greiner asked about the sales. The founder replied in 2018 they did $300,000 in sales and $755 in 2019. In 2020, they had $620,000 in sales. 

Kevin questioned how many stores they were in now. Michael revealed they are in over 700 stores. 

Mark Cuban asked where your sales are coming from. The entrepreneur replied that 60% of their sales are from retail and 40% are online. 

Lori Greiner was curious about the flavor and how it compared with jerky made of beef. Michael described the naturally meaty texture provided by the shiitake mushrooms.

Together, Lori Greiner and Blake Mycoskie made Michael an offer of $300,000 in exchange for 30% equity. They desired a larger ownership position in the business, yet appreciated the product.

To assist Michael in expanding the company, Mark Cuban made an offer of $300,000 for 25% ownership. In response, Michael offered Mark 15% shares for the same investment. After some negotiation, both agreed on 18% equity.

Product Availability

Made from shiitake mushrooms, Pan’s Mushroom Jerky is a tasty, chewy, savory snack that will satisfy both vegans and non-vegans. There are other flavors available for the product, such as Applewood BBQ, Zesty Thai, and Original. The jerky is available online at Pan’s Mushroom Jerky website, on Amazon, and in real places, including HEB and Whole Foods. Depending on the store, a 2.5 oz bag might cost anywhere from $8 to $10.

Conclusion 

The Pan’s Mushroom Jerky that debuted on Shark Tank has advanced significantly. Sharks and customers alike were drawn to Michael Pan’s notion of a tasty plant-based jerky. The company experienced tremendous success after striking a partnership with Mark Cuban, and Michael has kept growing his product line and distribution system.

In the world of plant-based snacks, Pan’s Mushroom Jerky is quickly rising to fame thanks to its robust sales and expanding availability. Watch this space for upcoming flavor and expansion releases!