Pan's Mushroom Jerky Shark Tank Update

Pan's Mushroom Jerky Shark Tank Pitch

Michael Pan appeared on Shark Tank Season 12, Episode 6, which aired on November 19, 2020, with vegetarian, gluten-free, Shiitake mushroom jerky.

Pan's Mushroom Jerky is listed in the Food Beverage category. In plain terms, the business is described as vegetarian, gluten-free, Shiitake mushroom jerky.

Pan's Mushroom Jerky asked the Sharks for $300,000 for 10%, implying a valuation of about $3 million.

On the show, Pan's Mushroom Jerky made a listed deal with Mark Cuban for $300,000 for 18%.

If treated as straight equity, the listed deal works out to about $1.7 million implied valuation, down from the original $3 million implied valuation.

This pitch is included as context for the more important question: what happened after Shark Tank.

Pan's Mushroom Jerky After Shark Tank

Pan's Mushroom Jerky accepted Mark Cuban's offer on Shark Tank, then faced the good problem that often follows a strong food pitch: demand arrived faster than production could comfortably handle. (Pan's Mushroom Jerky Shark Tank Update

A NIST Manufacturing Extension Partnership success story later described the company increasing capacity and moving into more than 3,000 stores, including Kroger, Whole Foods, and Natural Grocers, while also selling direct and through Amazon. (NIST MEP success story

The current Pan's storefront continues to sell mushroom jerky flavors online, so the Shark Tank outcome reads as a real manufacturing and retail scale-up rather than a brief novelty-food spike. (Pan's Mushroom Jerky website

Sources

Sources used for this page: Shark Tank API pitches