Mark Cuban Invests $350K in Baby Food Startup Ready Set Food
Mark Cuban has invested in baby food startup Ready Set Food, acquiring a 10% stake. The deal, which closed at a lower equity than initially sought, involves the entrepreneur offering $350,000 for 12%, including 2% for advisory services.
Founded by Katie Marks-Cogan and Andrew Leitner, with Daniel Zakowski as a key team member, Ready Set Food produces organic, non-GMO baby food for stages 1 and 2. Their unique selling point is incorporating powdered allergenic foods into baby formulas, providing necessary proteins and fibers without food allergy risks.
The company's founders, Katie and Andrew, created the formula based on Katie's personal experience introducing allergenic foods to her child at an early age. Before appearing on Shark Tank, Ready Set Food was selling products online and sought investment to expand distribution. Mark Cuban's investment will help achieve this goal. However, it's worth noting that the deal closed at a lower equity than the founders initially asked for on the show - they sought $350,000 for 7% equity.
Ready Set Food's innovative approach to baby food has attracted Mark Cuban's investment. With a 10% stake, Cuban will provide valuable support and expertise to the company as it continues to grow and expand its distribution. The deal, while closing at a lower equity than initially sought, still represents a significant vote of confidence in the company's potential.
