Ready Set Food Lands $350K on Shark Tank for Allergen-Fighting Baby Food
Ready Set Food, a company producing organic, non-GMO baby food, appeared on Shark Tank seeking investment. Founded by Katie Marks-Cogan and Andrew Leitner, with Daniel Zakowski as CEO, they asked for $350,000 for 7% equity. Their unique selling point is incorporating allergenic foods into baby formulas to prevent future allergies.
The company's products, designed for stage 1 and 2 babies, include milk, peanuts, and eggs, providing necessary proteins and fibers without allergy risks. Ready Set Food's founders created the formula based on Katie's personal experience introducing allergenic foods to her child at an early age.
Before appearing on Shark Tank, they were selling products online but needed investment to increase distribution. Mark Cuban made an offer of $350,000 for 12% equity, including 2% for advisory. He also proposed giving one free product to low-income families for every unit sold. After negotiations, the deal closed at 10% equity for Mark Cuban.
Ready Set Food's innovative approach to baby food aims to prevent future allergies. With Mark Cuban's investment, the company can expand its distribution, making its products more accessible to families. The deal also includes a social responsibility component, providing free products to low-income families.
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