Pan’s Mushroom Jerky Net Worth – How Much is Michael Pan Worth?

Founder and owner of Pan’s Mushroom Jerky, Michael Pan has found success in the snack food business after appearing on the popular television show Shark Tank. This Malaysian-born electrical engineer has worked in major companies, and has been running his business for a decade as a side hustle. When he began making mushroom jerky, he had no idea that he would become a billionaire.

Pan’s Mushroom Jerky is a plant-based snack that is soy-free, gluten-free, and paleo-friendly. In addition to being high-fiber, the product is a good source of vitamin D. The mushroom-based jerky also has a meaty, umami-flavored texture. It’s sold in a variety of flavors, including original, applewood barbeque, zesty Thai, and spicy chipotle. It’s also available in two regions of Whole Foods stores.

Pan’s Mushroom Jerky started out as a family recipe. Michael’s cousin, who is a Buddhist vegetarian, made mushroom jerky similar to Pan’s. When Pan visited his family in Malaysia, he found out that mushrooms were a great meat substitute. He fell in love with the snack and decided to make his own version of it in the United States. He began to experiment with different recipes until he found a winning combination. He developed Pan’s Mushroom Jerky flavors while living in Oregon.

When he was first starting out, Pan sold his mushroom jerky at farmer’s markets. He soon discovered that he could sell it at retail stores. The jerky was so successful that he was able to make a six-figure profit within just a few days of selling it. He also started selling it at Whole Foods. Eventually, Pan’s Mushroom Jerky was sold at over 500 stores in the United States, and it became known as a healthful snack that’s also tasty.

When Pan first appeared on Shark Tank, the jerky was valued at $3 million. When Mark Cuban and Blake Mycoskie joined the discussion, Pan hoped that they would help him keep his business growing. In addition to his partner’s investment, Cuban also offered an 18% share of the company. This investment helped the company increase its distribution, and its sales skyrocketed. By the time the company reached March 2021, it had sold more than three-quarters of a million pounds of jerky. The product is currently sold in more than 700 stores nationwide. It’s also available online.

When Pan appeared on Shark Tank, he sought $300,000 in exchange for a 10% equity stake in his company. He thought this would give him a better valuation for his business. In addition, he wanted a business partner who had experience in similar companies. Cuban was the right choice for Pan, as he had experience running companies like his own. Cuban offered $300,000 for an 18% stake in Pan’s Mushroom Jerky company. In return, he would receive 20% of the company’s equity.

After the investment from Mark Cuban, Pan’s Mushroom Jerky skyrocketed in popularity. He signed retail contacts with large retail stores in the United States, and the product now sells at over 3,500 stores across the country. Pan plans to use Cuban’s investment to increase distribution, and to add new flavors.