For many people, indulging in sweets is a guilty pleasure. But what if you didn’t have to feel guilty? What if there was a snack that mimicked the taste of candy but with the health benefits? Enter Magic Dates, where Diana Jarrar pitched her business on Shark Tank and landed a deal with Kevin O’Leary. As of 2024, Magic Dates is worth an estimated $600,000.
Diana Jalal’s Background
Diana Jalal is originally from Syria. She moved to the United States with her family at the age of 11 and settled in Los Angeles. She later entered California State University, Northridge to study marketing.
While in college, Diana worked as a training developer for the American Academy of Aesthetic Medicine and Surgery (AAAMS). She held this position for two years after earning her bachelor’s degree.
In 2012, the Syrian immigrant became CEO and head chef of The Aventine Hill. The following year, she worked in real estate as a broker and marketing director for Rodeo Realty, Inc.
Magical Date
As Diana grew up in the Middle East, dates had a profound effect on her blood. Dates were a staple for travelers and served at royal banquets. As an adult, Jalal wanted to share the beauty of this fruit with the Western world.
She began growing dates at home and used her culinary talents to create date-based snacks that tasted like dessert. It had no added sugar, so it was healthier than candy.
Magic Dates was originally founded in 2016 but didn’t officially launch until two years later. In 2018, the company had revenue of $30,000, which grew to $130,000 by 2020. Retail sales have driven the impressively steady growth.
Shark Tank Appearance
Diana Jalal needed to raise capital as she planned to expand her business. The entrepreneur appeared on Season 13 of Shark Tank seeking $150,000 in funding in exchange for a 10% equity stake.
Diana’s introduction was powerful, and it was clear that she had spent a lot of time practicing her pitch. The Sharks were impressed by the diversity of the products and were intrigued by her background. She shared her sales figures and predicted revenue of $175,000 for 2021.
Jalal showed her new packaging, but Lori and Mark preferred the old one. Lori even suggested closing the company and getting a degree in human rights law. All the sharks, except Mr. Wonderful, backed out. Kevin O’Leary offered $150,000 for 33.33% of the shares, and she accepted the offer.
After Shark Tank
Magic Dates’ sales grew rapidly after appearing on Shark Tank, as they did for many other companies. For Diana Jarrar, the real challenge is getting repeat orders and maintaining strong sales after the hype dies down.
The exposure helped the company create a new product, Date Flight, which is a box filled with organic dates. The product is available on Amazon and MagicDatesBites.com. Since Shark Tank, their retail footprint has exploded! The products can be found in stores like WholeFoods, Down to Earth, and Mother’s Market. The company has a strong presence in California and is slowly expanding along the East Coast.
Their standard snacks have 439 reviews on Amazon with an average rating of 3.8 stars. Magic Dates is worth about $600,000, and Kevin O’Leary hopes to increase that value by striking deals with large retailers such as Walmart.
Categories: Shark Tank
Source: svlsf.edu.vn