Mark Cuban Invests in Ready Set Food, Backing Allergen-Friendly Baby Formulas
Ready Set Food, a trailblazing baby food company, has secured a significant investment from Mark Cuban. The deal saw Cuban acquire 10% equity in the business, which specialises in creating allergen-friendly baby formulas.
Founded by Katie Marks-Cogan and Andrew Leitner, with Daniel Zakowski serving as CEO, Ready Set Food aims to make baby food safer and easier to consume. Their unique selling point lies in incorporating powdered allergenic foods into baby formulas, a concept inspired by Katie's personal experience introducing such foods to her child at an early age.
Before appearing on Shark Tank, the company was selling products online and sought investment to expand its distribution. On the show, they asked for $350,000 in exchange for 7% equity. Cuban, however, offered $350,000 for 12%, including 2% for advisory, and proposed giving away one free product to low-income families for every unit sold. Ready Set Food's products, which are organic and non-GMO, provide stage 1 and 2 babies with essential proteins and fibres without the risk of food allergies.
Today, Ready Set Food continues to thrive, with its products available on Amazon and its official website. The company's innovative approach to baby food, coupled with Cuban's investment and mentorship, has positioned it well for continued success in the market.
