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Diana Jarrar pitched Magic Dates on Shark Tank season 13 episode 16, seeking $150,000 for 10% equity. The Palestinian refugee who grew up in Syria created date-based snacks that were dairy-free, gluten-free, non-GMO, and Kosher. Jarrar moved to Toronto at age 11, relocated to LA at 19, and launched Magic Dates in 2016 after working in catering and real estate.
The Sharks sampled her products including salted walnut brownie and lush lemon bar flavors. All Sharks gave feedback, and when it came to Lori Greiner, she rejected the pitch.
"You know Diana you gave up international human rights law that is something so needed and so important and in this Arena there's tons of dates like products and treats. I've seen lots of them," Greiner stated, suggesting Jarrar reconsider her original career path.
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In the end, Diana Jarrar left the tank with Kevin O’Leary’s offer.
The crowded market that made Lori Greiner reject Magic Dates on Shark Tank
Diana Jarrar entered Shark Tank with a compelling story and mission. Her company Magic Dates transformed the traditional Middle Eastern fruit into modern, healthy snack bites with flavors including salted walnut brownie, lush lemon bar, and coconut cream cake.
Jarrar presented her products as nutrient-dense alternatives to conventional treats. She emphasized that each bite contained just 50-60 calories while providing 15-20% of the recommended daily dietary fiber intake. The snacks contained natural sugars from dates without added refined sugars.
Magic Dates generated $30,000 in 2018, primarily through farmers' markets before expanding to 30 retail stores. Sales increased to $100,000 in 2019 and reached $136,000 in 2020. At the time of filming in September 2021, Jarrar projected $175,000 in annual revenue.
Jarrar detailed her cost structure during the presentation. Each package cost $1.60 landed and retailed between $4.99 and $5.99. The majority of sales came through brick-and-mortar retail locations, with limited direct-to-consumer business. Jarrar shared that she originally planned to attend law school to study international human rights law but chose entrepreneurship instead.
Lori Greiner’s rejection
Lori Greiner's rejection of Magic Dates focused primarily on market saturation concerns. The Shark Tank investor began her feedback by acknowledging Jarrar's background in international human rights law. Greiner then addressed the competitive landscape for date-based products.
This assessment prompted Greiner to suggest Jarrar reconsider her original career path. The comment triggered an interjection from Mark Cuban, who characterized Greiner's feedback as telling Jarrar to "walk away from your business and take it out behind the barn."
Greiner quickly clarified her position, stating she supported entrepreneurs following their passions. However, the Shark Tank investor remained firm in her market analysis.
"I honestly am saying go with your passions, do what you want but I feel because this is such a crowded space I'm sorry I'm out," Greiner concluded.
Other Sharks' responses
Mark Cuban went out first among the panel of investors. He specifically cited concerns about the packaging changes as a warning sign. Robert Herjavec suggested the sales numbers didn't demonstrate sufficient momentum to warrant investment at the proposed valuation. Daymond John acknowledged his lack of expertise in the health food category and stepped away.
Kevin O'Leary expressed mixed feelings about the opportunity. Despite concerns, the Shark Tank investor made the only offer of the segment: $150,000 for 33.3% equity in Magic Dates.
Jarrar attempted to negotiate for better terms, countering at 20% equity. O'Leary held firm to his original offer of 33.3%. After brief consideration, Jarrar accepted the deal, securing the investment from O'Leary at a higher equity stake than initially sought.
Post-show developments
The deal between Diana Jarrar and Kevin O'Leary took time to finalize. According to follow-up reports, the agreement closed in November 2023, significantly after the initial filming.
Jarrar expanded her product line following the Shark Tank appearance. She added "date flights" to the Magic Dates offerings, consisting of four varieties of plain dates accompanied by five recipes. These premium assortments retail for $39.99.
The retail footprint of Magic Dates grew substantially after the episode aired. The products gained placement in Whole Foods and numerous specialty markets throughout Los Angeles and beyond. The company maintained its commitment to natural ingredients and health-focused positioning.
Magic Dates products remain available through multiple channels. Consumers can purchase directly through the company website, Amazon marketplace, and an expanding network of retail locations.
Shark Tank season 16 is airing on ABC network.
