'Shark Tank' judges Mark Cuban and Lori Greiner get into a bidding war for a mushroom business

"Shark Tank" judges are friendly and interactive as long as the entrepreneurs are pitching their products, but as soon as they get down to business, the sharks bring out their sharp negotiation skills. One by one, they go at a lucrative business with the intention of biting off the biggest chunk they can get for their investment. However, some founders turn the tables and make the sharks fight each other by offering deals that suit the company's interests instead. While the list is small, there was one company, Pan's Mushroom Jerky, that made the Sharks fall in love and go to war over it. 

In the episode, the founder, Michael Pan, walked into "Shark Tank" with an ask of $300,000 in exchange for 10% equity in his business. Pan put up quite a show as he made it seem like his company was all about meat jerkies. After handing out samples and calling his product 'meaty,' he revealed that it was made of mushrooms! Sharks who had a mouth full of the jerky had a hard time believing it. "I love it even more now!" Lori Greiner complimented.

Pan then explained that his product is soy-free, gluten-free, and much more as it only uses six simple ingredients. He then shared the story of a trip he once took to Malaysia, where he came across the mushroom jerky. He explained that the snack was prepared by his cousin, a Buddhist monk, who made the jerky for everyone in his community. After taking the family recipe, Pan experimented with it in his kitchen and eventually made a refined product packed with vitamins, fiber, and antioxidants.

After the Sharks were done complimenting the product, they asked some questions about the company's numbers. Pan shared that store sales made up 60% of his business, with the remaining 40% coming from online orders. He shared that by the end of the current year, he expected to close with  $1.5 million from sales, and he had already made $620,000. Earlier in  2018, the company had $300,000 in sales, and the following year, they closed with $755,000 in sales, all with a tiny margin of 10%. 

While Daymond John was out early, Pan had tempted three sharks to make a deal despite the low margins. Guest shark Blake Mycoskie was the first one to make a move as a team with Greiner, who explained that they wanted to make it a special partnership, so their offer was a bit steep. Blake then jumped in, saying that he only makes two to three deals a year because he wants to be fully involved with the founders. "Oh, I smell a 50% ask," Kevin O'Leary quipped.

"Lori and I want to do the 300k but we need to see 30% for us," Blake pitched. At this point, Mark Cuban tried to jump in but was cut off by Greiner. "Before you interrupt let me just say, this show's not about getting the very best deal it's about getting the best partner," she said. However, Cuban went on to make an offer of $300,000 for 20% equity.

"Now Michael, Michael! Here, just real quick, I've done this before, this would be added to the portfolio, I'll do 300k for 20 percent if you say yes, now!" Cuban demanded.  "No! No! You can't do that don't do that! We are passionate about this!" Greiner yelled.

Since Pan didn't want to give up too much equity, he countered Cuban's offer by putting up 15% of equity. Cuban hit back with an offer of 18%, and Pan accepted. "Hey  I will do it for 15! You can change your mind and we can have a deal!" Greiner begged but the deal had been sealed. 

In the end, Pan thanked both the entrepreneurs and left the Tank with a deal of a lifetime with his favorite Shark.