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Peanut, egg, and milk are the most common food allergies in children (80% of food allergies). Because these products are in everything, developing an allergy to them can dramatically affect a child’s quality of life. Scientific studies show that introducing allergens to infants early can help prevent children from developing these common allergies. Ready. Set. Food! is a patent-pending allergen introduce program using a bottle guided system for allergen introduction. The Ready. Set. Food! powder can easily be dissolved in breast milk or formula to introduce these common allergens to infants over a 6 month time period (or they can discontinue when they are eating actual eggs, peanuts, and milk). Early allergen introduction can help to lead children on a path to an allergy-free future.

Co-founders of Ready, Set, Food!, Dr. Katie Marks-Cogan, Dr. Andrew Leitner, and Daniel Zakowski came to the Shark Tank looking for a strategic partner that would be willing to invest $350,000 for a 7% equity share in their company. They are currently selling their product through their website, Amazon, and through physician promotions in their offices. Ready. Set. Food! has raised $2.4 million for the business at the same valuation they are offering the Sharks. The full program would run families approximately $48 per month for 6 months. This would be a total investment of $288 to families looking to reduce their child’s risk of developing allergies. Ready. Set Food! was expecting to close 2019 with $450,000 in sales after only soft-launching last year.

The Sharks feel that their product has a strong value proposition and no direct competitors although there are others who do something similar in applesauce pouches. There are no competitors on the market that are introducing allergens to infants through bottle feeding. The Sharks are also interested that there is a 70% margin on their product. Three Sharks decide that they would like to extend offers to partner with Ready. Set. Food!, Mark Cuban, Kevin O’Leary, and Lori Greiner.

Although several Sharks made offers, they decided to partner with Mark Cuban. Mark will invest $350,000 in Ready. Set. Food! in exchange for a 10% equity in the company. He will accept up to 2% in advisory shares. Mark places a contingency on his offer that he will work with them to set up a social cause around their product. They will provide kits for low-income families based upon how many products they sell. They agreed to Mark’s offer.

Would you try Ready. Set. Food!? Do you think this was a good investment for Mark Cuban? If you were a Shark, would you have invested in this company? Start the conversation below in the comments!

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