Three Jerks Beef Jerky Shark Tank Update – Shark Tank Season 7
Daniel Fogelson and Jordan Barrocas pitched Three Jerks Beef Jerky, made from premium filet mignon, on Shark Tank Season 7. They landed a deal with one of the Sharks.
“Jerktrepreneurs” Daniel Fogelson and Jordan Barrocas wanted the Sharks to devour a piece of their business, Three Jerks Beef Jerky, in Shark Tank Season 7 Episode 5.
What makes Three Jerks Beef Jerky different from other beef jerky is that they use only Filet Mignon, whereas most other beef jerky is made from the round cut (rump) of meat. Filet Mignon, or tenderloin, is the most tender cut of beef, which makes their jerky tender too.
About Three Jerks Beef Jerky
| Category | Details |
|---|---|
| Business Name | Three Jerks Beef Jerky |
| Founders | Daniel Fogelson, Jordan Barrocas |
| Industry | Food Products |
| Product | Premium beef jerky made from filet mignon |
| Investment Asked | $100,000 for 15% equity |
| Deal Status | Deal secured with Daymond John |
| Deal Outcome | $100,000 for 15% equity, with an option to buy another 15% equity for $100,000 later. |
After chewing on some rough beef jerky one night, Barrocas did some research on how to make their own jerky.
Shortly thereafter, the two former Emory College roommates started making home-made beef jerky from quality cuts of meat in their apartment with an old dehydrator that Barrocas’ mother gave him. Before long, they were sharing their beef jerky with friends and family who wanted more!
Like any good entrepreneurs, they realized they were onto something and started making their jerky in a commercial facility. They got all the USDA approvals and went to work.
In mid-2013, they ran a Kickstarter campaign and raised over $45,000 successfully to build out their e-commerce site, develop marketing materials and packaging, and produce enough inventory to start selling.
A two-ounce pack of Three Jerks beef jerky will set you back $12-$15, a small price to pay for the Filet Mignon of Beef Jerky.
Three Jerks Beef Jerky was likely looking to the Sharks for help with distribution and building inventory. Did a Shark take a bite out of these jerks?
Three Jerks Beef Jerky Shark Tank Pitch
Daniel and Jordan entered the Tank seeking $100K for 15% equity in Three Jerks Beef Jerky. They told their story and explained why their jerky is special while handing out the samples. The Sharks loved the jerky!
In the 12 months prior to their Shark Tank appearance, Three Jerks Beef Jerky had done $350K in sales at $11.99 per pack. That’s twice the price of standard “gas station beef jerky.” Each pack costs them $3.20 to make, but they didn’t want to drop the price.
They were getting killed buying raw product at minimum purchase points, and they wanted the Sharks’ money so they could buy in bulk.
One of the things that differentiates them from many other jerky brands is that theirs is gluten-free; most beef jerky actually has gluten. They believed that in order to expand, they needed to get into national chains.
The Sharks wanted to know who the third jerk was. Apparently, they had a third partner who was a real jerk, and they got rid of him. This prompted Mr. Wonderful to say, “The third jerk got whacked!” Everyone in the room knew that jerky was competitive, but Three Jerks was the only brand that used Filet Mignon.
Did Three Jerks Beef Jerky Get a Deal on Shark Tank?
Kevin offered $100K for 33% equity. He doesn’t think his valuation is bad because he knew what he was worth. Mark Cuban said he loves the jerky, but the business is too competitive, and he’s just not that into the journey; he was out.
Robert bids $100K for 20% equity. Daymond said he’s a “jerkologist” and offered $100K for 20%. Then Lori offered $100K for 20% equity.
Four Sharks were in, three with identical offers. Kevin said he still wants in, but he wants a “Mr. Wonderful premium.”
Robert Herjavec said, Kevin is just a ‘bigger jerk.’ Kevin counter-offered $125K for 33%. The Jerks asked Kevin if he would match Daymond, Lori, and Robert’s valuation.
Daymond then offered $100K for 17.5% and the Jerks asked if he would stay involved with the business. Robert asked them, “How much cash do you want?” They replied, “$200K.”
Kevin offered $150K for 33%, and Daymond John offered $100K for 15%, with the option of paying another $100K for 15%, but he wanted an answer now because he likes decisive partners.
After a break, Robert said he would go in with Lori Greiner for the same deal as Daymond, but the Jerks said, “Daymond, you have a deal.” Daymond replied, “I love being a jerk!”
Thus, the deal was finalized with Daymond for $100K for 15% equity with an option for another $100K for another 15%.
Three Jerks Beef Jerky Shark Tank Update
Three Jerks Beef Jerky gets an update segment in Shark Tank Season 7 Episode 18, just a few months after their original air date in 2015. Let’s see how Daymond helped them get their business to the next level.
Since doing the deal with Daymond, Daniel and Jordan have been knee-deep in Filet Mignon. They did $250K in sales the night they aired and $1.4 million since airing three months prior to the update. That’s over 150,000 bags of jerky!
Their growth has challenges: their co-packer can’t keep up with demand. Daymond says too many sales is a good problem to have. He introduces them to Rastelli Foods Group, a co-packer that can maintain quality and reduce cost. Now the sky is the limit for Three Jerks.
As of 2018, they were in over 3000 retail locations. They also send their jerky into space on SpaceX flights!
As of August 2022, the company is still in business, but its founders have stepped away from the day-to-day operations, and they both have jobs. Barrocas is the Chief Executive Officer at Direct Global Partners. Fogelson is in operations at Malibu Mylk. The annual revenue was $4 million.
The reason they stepped away from the business has a dark explanation. After the show taped, Daymond changed the deal. He said he wouldn’t inject capital into the business but would introduce opportunities to the company in exchange for a 5% royalty.
The Rastelli Foods deal involved Rastelli selling Three Jerks their meat and handling all the packaging and accounting. The deal gave John and Rastelli 50% of the business, with Barrocas and Fogleson retaining 50%.
As of 2025, based on available data, the company continues to operate under its original brand but with outsourced operations. Daniel Fogelson and Jordan Barrocas are no longer involved full-time, focusing on other ventures.
Their products are still sold online and in select retail channels, such as Amazon. The annual revenue of Three Jerks Beef Jerky remains around $4-5 million. The estimated net worth of the company is around $1-$3 million.
Posts About Three Jerks Beef Jerky on Shark Tank Blog
Learn more details about Filet Mignon Jerky.
Where Can You Buy It?
Check out their official website for more details. The products are available on Amazon for online purchase. You can visit their social media page for other updates, though they are not posting frequently: Facebook and Twitter.
Quick Summary
- Founders Daniel Fogelson and Jordan Barrocas pitched Three Jerks Beef Jerky on Shark Tank Season 7, seeking an investment of $100K for 15% equity.
- They secured a deal with Daymond for $100K for 15%, with an option to invest another $100K for 15% more, helping the brand scale production through Rastelli Foods.
- The company hit $1.4 million in sales within months and later expanded into thousands of stores and even sent jerky to space. However, the founders eventually stepped away from day-to-day operations.
Check out other Shark Tank Season 7 Episodes.
Interested in knowing about other businesses that appeared on the same episode? Check out their business updates!
