Meat the Mushroom Net Worth 2024 Update & Their Shark Tank Pitch!

Meat the Mushroom, a plant-based food company founded by Marvin and Aleah Montague, aired on the 15th season of Shark Tank USA in 2024. The founders were seeking $150,000 for 7.5% equity for their business. However, they secured a deal with Kevin O’Leary and Lori Greiner, $150,000 for 33.3% equity. In this article, we will explore Meat the Mushroom Net Worth in 2024, its Shark Tank pitch summary, and more.

Meat the Mushroom Net Worth

As of 2024, Meat the Mushroom Net Worth is estimated at $2 million, and its annual revenue was $238,000 in 2023. 

Meat the Mushroom Net Worth Timeline

Shark Tank Meat the Mushroom Update from Season 15 

In 2021, Marvin Montague Jr. and his wife, Aleah Rae Montague, launched “Meat the Mushroom” with a passion for plant-based foods. Marvin had always enjoyed bacon, but after being diagnosed with a heart condition, he made the switch to a vegan lifestyle. This change significantly improved his health, helping him overcome several health problems. 

Inspired by his recovery, Marvin became a strong supporter of plant-based diets. Initially, he wanted to open a plant-based restaurant but eventually focused on creating plant-based products. Marvin and Aleah developed their bacon alternative, naming their business “Meat the Mushroom.” 

When they appeared on the show, they introduced themselves as Marvin and Aleah and asked for $150,000 in exchange for 7.5% equity, valuing the company at $2 million. They concluded their pitch perfectly and invited the sharks to join them on their journey. The sharks tried their samples during the presentation.

Mark Cuban praised the product, saying it tasted great. Then, Aleah explained that their product is non-GMO and can be cooked in various ways, such as in an air fryer, skillet, or oven, especially if you avoid oil. Kevin then noted that many plant-based products on Shark Tank don’t taste good. But at that moment, Mark disagreed with Kevin. 

However, Kevin also admitted that he actually liked this one. He further asked which mushroom they use there, and Aleah said they use king oyster mushrooms. Kevin then pointed out that the product seemed expensive and asked about its production cost. At that moment, Aleah explained that it currently costs $2.09 per pack, but she said they aim to reduce it to $1.75. 

There, she further mentioned that they could sell it for $8.99 at retail, with a distributor price of $4.40. Guest shark Daniel Lubetzky then asked Marvin and Aleah about their backgrounds. Aleah shared that she used to work as a Facebook Ads manager, while Marvin came from the car wholesale business. Marvin later started a company called Moover, where he met Aleah. 

He then talked about his health struggles, which led him to adopt a vegan lifestyle. After switching to a vegan diet, his heart disease disappeared. Seeing the impact of plant-based food on his health, Marvin wanted to open a vegan restaurant. However, he decided that a product-based business could make a more significant difference.

Mark then asked about their sales numbers. There, Aleah explained that in 2021 they made $38,000, followed by $86,000 in 2022. By the time of filming, their sales had reached over $238,000, bringing their total lifetime sales to more than $360,000. She further added that 93% of their sales come from direct-to-consumer channels, but they are just beginning to enter the retail market.

Kevin offered $150,000, but he wanted 33.3% equity to become a third partner in the business. Mark Cuban spoke next but decided to leave the deal due to a conflict of interest with another plant-based company, Unreal Deli. Daymond John praised the couple for their hard work but said he saw too many challenges ahead, so he dropped out of the deal. 

Then, Kevin grew frustrated when the couple didn’t immediately accept his offer, so he increased his equity demand to 34%. At that moment, Daniel pointed out that Kevin rarely makes fair offers and encouraged the couple to take the deal, saying he couldn’t offer them anything better. Next, Lori joined the deal and offered $150,000 for 33.3% equity. But, after hearing all the offers, Marvin and Aleah seemed unsure, so Lori and Kevin decided to team up, offering $150,000 for 33.3%.

Aleah countered with 25% equity, but the sharks stuck to their original offer. She then proposed $200,000 for 33.3%, but Kevin declined. Ultimately, the couple agreed to Lori and Kevin’s initial deal, which was $150,000 for 33.3% equity, valuing the company at  $450K.

Summary of the Sharks’ Deal List!

What Happened to Meat the Mushroom after Shark Tank?

As of October 2024, Meat the Mushroom is still in business. After their episode aired, Meat the Mushroom gained significant exposure and saw a surge in sales. Moreover, reviews from well-known author Tabitha Brown and fashion designer June Ambrose helped boost the company’s success. The Shark Tank’s appearance and celebrity endorsements drove their impressive growth.

Also, the exposure and validation from Shark Tank took Meat the Mushroom to the next level in the plant-based food industry. Their signature product, Shroomacon, is available through their website in packs of 4 or 8, with prices set at $48 and $88, respectively. Each pack contains 8-10 slices of their vegan bacon, which has become so popular that some retail locations experience stock shortages. The company also recommends ordering in bulk through their website due to the product’s long shelf life.

Meat the Mushroom also prides itself on responsive customer service. Many customers praise Shroomacon’s full flavor and quality on the company’s website and social media. As a Black-owned business based in Baltimore, Maryland, Meat the Mushroom represents innovation and diversity. Supporting this company helps promote a unique and high-quality plant-based product.

On the MeatTheMushroom.com store locations page, you can find retail stores that sell their products. Currently, the product is available in stores across cities like Philadelphia, Baltimore, Washington, Atlanta, Madison, San Antonio, Fort Worth, Houston, and Portland. Also, in an interview with BizJournals.com, Marvin Montague Jr. expressed optimism that Shark Tank could help them get their products into 1,000 grocery stores by the end of 2024. The founders also plan to expand their product line to include mushroom-based chorizo and boneless ribs.

However, this will be a challenge because mushrooms are currently prevalent in the vegan market. Many major companies, like Impossible Foods and Beyond Meat, use mushrooms as a critical ingredient for their meat alternatives. One potential competitor for Meat the Mushroom is Umaro Foods, a startup that secured a $1 million deal with Mark Cuban.

Meat the Mushroom Founder

Marvin and Aleah Montague founded Meat the Mushroom in 2021. As a child, Marvin struggled with asthma and heart disease, but after becoming vegan, his health issues disappeared within a year. This transformation inspired him to spread the benefits of a vegan lifestyle. 

Marvin and his wife Aleah then initially wanted to open a vegan restaurant. At the time, Aleah was working in marketing for both online and physical stores. Marvin spent a year experimenting with mushrooms, eventually discovering the perfect combination of five ingredients. Then, they launched their first product, Shroomacon, in 2021 without any unnecessary additives or heavy processing.

The couple’s products regularly sold out at farmers’ markets and even caught the attention of celebrities like Tabitha Brown and Keri Hilson. Most importantly, after a strict application process, they earned a spot on season 15 of Shark Tank. As of 2024, their net worths are not publicly known.

Meat the Mushroom Achievements and Awards

Conclusion

Shark Tank is a TV show showcasing different business ideas, helping them succeed. Meat the Mushroom was one of the ventures featured on the show. They made a deal with Kevin O’Leary and Lori Greiner, showing that success is possible with the right idea and execution. Now, we eagerly await to see how their success story unfolds in the future.

Before you leave, check out the other company updates in Season 15, Episode 12.

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