How David Hit a $725M Valuation in Under a Year
A protein bar company valued at $725M in under a year. Here's the David protein breakdown.
A couple months after launch, Dana surprised me with a box of David Protein. She'd heard me going on about the hype and how impressed I was with the label. 28g protein, 150 calories, zero sugar. I didn't even know that was possible in a bar format.
Well, of course, I wasn't the only one paying attention.
Today: 3,000+ retail locations. $85M raised. $725M valuation.
What made them explosive:
The team and backers. Founded by Peter Rahal, who previously built and sold RXBAR for $600M. Peter Attia MD serves as Chief Science Officer. Andrew Huberman and Arnold Schwarzenegger are investors and public supporters. That lineup gave them instant credibility in the health and fitness world.
The timing. GLP-1 drugs have millions of Americans eating less but needing more protein to prevent muscle loss. David entered the market right as that demand curve started climbing.
The go-to-market. Waitlist pre-launch, 20,000 free samples, aggressive TikTok and influencer seeding, and eye popping minimal metallic packaging. They built demand before chasing shelf space, then used that leverage to scale into retail fast.
The controversy: They acquired Epogee, the sole producer of EPG (the modified fat that makes their macro profile possible), and allegedly stopped supplying other brands. A lawsuit followed. David's position: competitors should have locked in long-term contracts. The case is ongoing.
The response to critics: When people called the bars ultra-processed, David launched... frozen cod. Boiled cod pouches at $55 for four fillets. Their billboards read: "Slightly more protein per calorie than our bars." Tongue-in-cheek, but it reinforced their core message while acknowledging the criticism.
Whether you see David as the future of functional food or a cautionary tale, they've built something the industry is watching closely.
And it seems like none of us can stop talking about it.
