“Shark Tank” viewers know that the products presented on the show are in different stages of development and release. Some, like Gunnar Glasses, have already seen some success and are looking for the Sharks’ help to expand their businesses. Then there are companies that are still in the early stages and haven’t shipped any product yet, like the Amber Phone Charging Station.
Terrashroom, which appeared on Season 16, Episode 4 of “Shark Tank,” is a product that falls into the latter category. Founder Jared Steele came to the Sharks asking for $175,000 for 2.5% equity in his innovative mushroom growing chamber, which he claimed had reached 6,500 paid customers (with more than 20,000 on an email waitlist) and made $780,000 in revenue over the first year and a half.
Though the Sharks seemed interested in Terrashroom at first, most backed out after learning that Steele had yet to ship any product. Only Kevin O’Leary stayed in, offering the money in exchange for 15% of the company — much to the frustration of fellow Shark Lori Greiner, who even tried to talk him out of the offer. However, as soon as Steele tried to counter with 5%, Mr. Wonderful immediately backed out, leaving Terrashroom without a deal.
What happened to the Terrashroom after Shark Tank?
Terrashroom had some success early on. In July 2024, the company shipped its first 23 units, receiving positive early reviews. After some design adjustments, the company planned to ship the first 1,500 units of the final product between October 2024 and January 2025. However, it’s unclear if these actually reached customers, as Terrashroom went quiet for several months after a September 2024 investor update.
In June 2025, founder Jared Steele announced that he was immediately shutting down Terrashroom. In a final company update, Steele apologized for underestimating the amount of work involved and overpromising the product. He also cited manufacturing issues, an incredibly low customer retention rate, changes in the mushroom market, and stress-related health issues as factors. The company’s dire finances also meant that Terrashroom could not refund deposits for incomplete purchases. Steele has made a customer claims form and has made a personal promise to reimburse those who didn’t receive what they paid for out of a desire to make restitution. That hasn’t stopped many frustrated customers from, understandably, feeling duped and accusing Terrashoom of being a scam.
Since the announcement, Terrashroom’s website and social media have all been wiped, outside of its LinkedIn account. As for Steele, he’s worked at a couple of small businesses in the Austin, TX area since shutting down his company. Terrashroom is a case where money and guidance from one of the Sharks may have been helpful, but perhaps not enough to meet its overambitious goals. Although maybe scientists could have helped, now that they are turning mushrooms into computers.
