How a founder selling vegan jerky went from a negative bank account balance to getting a 6-figure investment from Mark Cuban

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How a founder selling vegan jerky went from a negative bank account balance to getting a 6-figure investment from Mark Cuban. (via CNBCMakeIt)

Michael Pan, founder of vegan mushroom jerky company Pan's, received an investment from Mark Cuban on ABC's "Shark Tank."to receive a Paycheck Protection Program loan from the government amid the coronavirus pandemic, he said on Friday's episode of ABC's "Shark Tank."

Pan was inspired to create his shiitake mushroom jerky company in 2018 after visiting family in Borneo, Malaysia. During his trip, Pan's cousin, who is a vegetarian Buddhist, made a mushroom snack that Pan initially thought was pork. He was impressed with both the taste and texture and knew he wanted to bring the snack back to the U.S.

He sells the plant-based jerky for between $7.99 and $8.99 retail, but it only costs him $1.67 to make, he said. The snack is also vegan, paleo-friendly, Kosher, soy-free and gluten-free, according to the company's website. "We're about $95,000 to $100,000 a month in sales right now," Pan said at the time of filming. His mushroom jerky is sold in over 700 stores total, including Whole Foods.

 

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MakeIt Emails obtained by U.S. Right to Know show a statement in The Lancet authored by 27 prominent public health scientists condemning “conspiracy theories suggesting that COVID-19 does not have a natural origin” was organized by employees of EcoHealth Alliance associated with WIV.

MakeIt I wish vegans would stop trying to make their foods taste or look like meat.

MakeIt Is it weird I want my steak to taste like a salad? 🙄

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