How Sweetgreen Became A $1 Billion Salad Start-Up
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- เผยแพร่เมื่อ 11 มี.ค. 2019
- Sweetgreen is now the restaurant world's first "unicorn," valued at over $1 billion. Started by three college friends out of their dorm room at Georgetown University, the salad company has 91 locations with more in the works and is vying to become the digital food platform of the future.
Introducing The Upstarts, a new series about the companies you love that came out of nowhere and are now everywhere.
Sweetgreen is the first-ever unicorn salad start-up, luring lunchtime lines across the country with its millenial- and Gen Z-friendly $12 salads. Now, the brand that brought the farm-to-table trend to fast-casual dining wants to be "the Starbucks of salads."
"If I had told you 25 years ago, when Starbucks only had a few locations, that someday it would be a global phenomenon … nobody would have believed that. ... But, that's what happened," Sweetgreen investor and billionaire Steve Case told CNBC. Today, Starbucks has a market value of nearly $90 billion. "And so that's what we feel with Sweetgreen."
Like Starbucks, Sweetgreen started with a single store.
The brand was founded in 2007 after then-Georgetown students Jonathan Neman, Nicolas Jammet, and Nathaniel Ru (who met in an entrepreneurship class) got tired of the unhealthy and uninspiring food options around campus and decided to do something about it.
"The most delicious food, the coolest food … was all the least healthy," Jammet tells CNBC Make It. "None of them made us feel that good, and we wanted to solve that problem."
Neman, Jammet and Ru, all now 33, settled on the concept for Sweetgreen - fast but healthy meals that taste good and feature ingredients from local farmers - before they'd even finished taking their finals, and they hosted taste tests of future menu items with other students in Jammet's dorm room.
"We even had these little anonymous surveys people could fill out," Jammet tells CNBC Make It. (An early iteration of the chain's Guacamole Greens salad was the most popular dish then, he says, and it remains one of the store's biggest fan favorites.)
The friends raised over $300,000 from 50 investors - mainly family and friends - and three months after graduating, opened the first Sweetgreen in a 560-square-foot shack near the Georgetown University campus.
The bathroom was bigger than the kitchen, Ru and Jammet remember. "We really had no idea what we were doing," Jammet says.
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How Sweetgreen became the Starbucks of salads with a valuation of over $1 billion | CNBC Make It.
I've never heard of this company until today.
Same
Same
Well, now we have!
maybe its only in places which have upper middle class who can afford it
that's your CNBC marketing for you! go make them rich..... XD
Okay but is it still a startup if its eleven years old?
They’re still taking loans from investors who have cash to burn, so technically, yeah.
@Fajitahmed
That's false. You don't take loans from selling stock, the company sells stock and need not return. The proper term is capital financing.
Loans are either from issuing bonds or taking loans from financial institutions.
@@Biskwyy
But we know this startup isn't getting loans from investors. They're getting cash equivalent investments.
The startup word is just overused.
@@timmylehynokungbowa2229 the don't make a profit so the are star up
I never had their salad but TH-cam gifted me with a voucher for their delivery to try it out and I still haven’t used it .. I definitely want to try it soon !
Now I just wanna know what their marketing team do to garnish the attentions of all these celebrities. These guys are geniuses, no cap
its somewhat organic but the sauces are key because they make the salad sooo good. also the name is cute and clean.
1 billion dollar for making salad i smell money laundry
@@zerohour2703 😏....
Pls don’t say no cap lol
Healthy food thats it
This is so weird. They sell salad and they're talking about blockchain and DNA testing?
tech is in everything. get with it or be left behind
they also need Ai or they are going to fail the crunchy water skynet
they are overdoing it. They are fitting problem to technology and not technology to the problem.
Bratwurst mit biryani indeed consumers won't give 2 shits about a blockchain network connected to crunchy water
@@bratwurstmitbiryani No they aren't. A lot of people cannot eat certain foods and don't know it. 23&Me for example alerted me that my DNA is impacted negatively by certain foods. This company knowing this data would allow them to cater specific recipes to the user essentially creatubg a personalised menu that benefits and is tailored to their health.
First food video I watched that didn’t make me crave the food
Why not?......you all wanted chicken in it???
Truly admire their business success, but they don’t serve anything appetizing. Understand your point.
Buy organic produce from farmer's market and wash it well... You will have good salad for less...
True. People want even salad made by someone else. Because of lazyness partly, even salad takes a bit of time and effort. Look at ready cut fruits or bread. The more made, the less time you spend on it. We live at such speed, no body has time to put energy even in the food. Which is really sad.
I feel like the word “Start Up” is being used way too loosely nowadays, because it was initially used for technology companies. They should call this a "chain", which is what it is, a restaurant chain.
I agree. I'm hearing it very often
The Word CEO too... Everybody wants to be the ceo of something now... Media always makes everybody behaves like stupids
While it is used a lot, I think it can be used broader than simply tech. I think it's fine to use it to describe a young company :)
@@emilclaudell i think that the point is not about the word "Start Up" but the fact that now everybody want to start a company , for the sake itself , and the majority ( obviously ) fail. And the media try to sell you that being a billionaire is easy and everyone must do it
a start-up refers to pretty much any young business that has the ability to scale in a prospective manner. Opposed to a small business which doesn't have the same element of scalability etc.
I was totally down with it until homie said he wanted customers' DNA info wtf
@Anonymous LOL, plants provide probiotics.
DNA info for customization of the salad
basically automating a nutritionist's job
Never ever divulge more than necessary.. never know what these maniacs are upto.
It's a difficult time for brick and mortar businesses like SweetGreen & WeWork. The only way they can get investments from VCs is if they are able to get data of the customers they are catering to. That's why you would see any businesses set up in these times using these words, it might be just a ploy to lure in more investments.
This company want their customers DNA to customize which foods you should be eating. 🤔
1 billion dollar for making salad i smell money laundry
@@zerohour2703 i smell a jealous loser
@@neo69121 who gets jealous watching people eat a bunch of leaves? 🙄
@@UnbreakableRukawa youd be surprised
I smell theranos 🤣🤣
This video didn't meat my expectations
Jan-Philippe Schilt lol
The story: "hey, let's see if we can exit and cash out before the next recession when people start asking why they're paying $14 for a salad."
LMAO
I'd like to say this is going to be another WeWork case... But you ca't underestimate the ludicracy of American young overprivileged class.
oop too late
Hundred and $350,000 from family and friends THATS privilege, someone with he same great idea and less means would not have been able to grow this company.
Elevent years ago? They build work so hard. Bless them
Salad is like Coffee, a product with a giant margin. 🤷🏼♂️
One of the very few places that I actually like eating salad from. Their dressings are the best, especially that lime cilantro one. 😋😋
I feel like they can only sell in New York and California
Love this! Wishing this company more success!
These are the most filling and satisfying salads I’ve ever had. Worth the price, they STUFF your bowl
Only salad I really like
People want to feel so important and lavish. It's just a salad. Why can't they just make their own salad? It's literally the easiest thing to do right under making your own cereal.
mike alpert lol it’s our generation smh
It would be more expensive if we were to recreate the same exact salad considering we’d have to buy every single condiment and ingredient.
Some people are busy.
@@queentargaryen2801 Really, a bottle of ranch, some nuts, and a bag of mixed greens? Really that's more expensive than buying it ready made at $14 dollars. Wow.
It amazes me people can't make there own salad.
American style salad is crap, lettuce is crap. Give me stir fried chopped garlic with spinach, with olive oil and sauce.
Amazes me how people still don't know the difference between they're, their, and there. But I'm sure yours was a type-o =)
@@robearhong STFU
@@aroundNYC FU
@@Oscar4u69 any time and place
I have worked for sweetgreen & I regret working here! The company only cares about making money but treat all employees like crap
Omg. They have great salads. I, literally, just ate a harvest bowl. That's my favorite. 🥰🥰🥰🥰🥰
Good for them and also such a healthy alternative that is not harming people while being produced. Good job.
Love it...and to think I've been to the very first one, plus MANY others. Great stuff. Now, time to come to Novi, Michigan!!!
1:46 the one thing they all had in common. Their shoes!!
I eat tons of sweet green, but I’m not trying to be trendy or hip. I just want a healthy meal that I don’t have to cook. 🤣
I live in Hawaii on Oahu. They should open one here, so many delicious plants grow well here, they’d have an awesome menu.
WoW, I didn't know much about Sweet Green, but that first "shack like" location in Georgetown is a very familiar landmark.😎
Love this series!
conclusion? american eat overprice salad?
Bacchanalia racist. Also one of the founders is not white if you noticed
Wow, 1 Billion valuations, that's when you know we're in a tech bubble. Recession is going to hit hard.
Only what's tech about salad?
Trueeeeeee dude!!!!!
@@MarcelPatilaya only if you understood the video
@@fauj7860 I do, do you?
@@MarcelPatilaya
You don't
EVERYTIME I EAT HERE I FINALLY FEEL NORMAL ON EARTH THANK YOU TO THESE YOUNGSTERS FOR PUTTING REAL FOOD IN ROTTEN NYC
this isn't weird.
they even pay $1000 for 'apple'
Difficult to come by good content like this one TH-cam...trust me I have searched..please don't discontinue this series
It's all about customer experiences! Switzerland is welcoming you for your first international expansion!
Call me old-school but I still think food's primary purpose is to curtail hunger.
thank you!
Amazing. I will never know how people see opportunities like this.
Successful people are always looking for opportunities to help others. Unsuccessful people are always Asking, 'What's in it for me?' - Brian Tracy
Simple. Find an idea to make life better for people around u. U have ur business. Cheers 🍻
@@ajitnairk010
Aaahhhh...you mean like how Elizabeth Holmes was helping everyone with her company "Theranos"? Lmao🤣😆😂😂
Or Bernie Madoff??
Or Lehmen brother??
Or wall street during the 2008 crisis??? 🤣😆😂😂😂
@@terriesmith8219 . Well, they were so much into helping themselves only. So the results are obvious.
I totally agree with you, ask any reasonable investor or a business book, agriculture isnt a stable mrket to invest in...especially easily perishable goods like vegetables.
I've had this in DC. I had it mostly because there wasn't much else to eat. It's expensive, very limited seating but it's healthy.
Throw in a lot of buzzwords, throw in “local” or something that feels fuzzy and good, and overprice it. Brings in Millenials (I am one too) like crazy.
Fn blockchain lol
Brian Moon exactly
I am not from the US, but Salad Stop is quite doing well in SEA countries, and they are just like Sweetgreen.
I’ve never heard of this company until this video.
Nobody could ever thought about this kind of start-up touched $1billion 😱
Wow what a innovative idea
Appreciated...
I sold 0.00000001% of my zero revenue company for $100. Call me a unicorn too!
I’d love to work with a forward thinking company like this
I was thinking of this the other day why no one has made a healthy food/salad fast food restaurant type place
Here eating salad while watching this...
If it can withstand the next recession, then it will be the true unicorn.
There is a hope for american diet afterall. Glad that did it ❤👏 keep it up
Really, you call that hope. A corporation feeding you??? Nanny-state
@@curlyhairdudeify all corporations feed u. The farmers are slaves to monsanto
$13 for a salad. It cost 10 cents to make. You do the math.
Buying Sweet Green shares every week. Such a hidden gem. Thanks to the CEOs and their team for creating tons of jobs all over in many different ways.
But they r losing money..
@@livingalone5737 They were losing money because during the lockdown because too many of their restaurants were closed and they didn't offer indoor dining, but that's changed this year, just wait until they report their earnings for the upcoming quarter, you're gonna be surprised. Many workers are back in the offices and they order tons of salads from Sweet Green, it's a great reopening play.
How’d that work for you…
@@grantr1556 I'm still adding shares each week, it's a good reopening play, all of the locations in the Bay Area are busy. All Sweet Green has to do is mimic where Shake Shack puts stores at, wherever there's a Shake Shack at, it's usually an upscale type of area or high income area.
Yikes! Maybe shouldve waited for $CAVA
Thank you
I'm proud to be a member of Sweet Green
Simple ideas are the best 🤷🏾♂️♥️
Saw that title and immediately couldn't stop thinking of Chamath Palihapitaya ....
I do love sweet green!
If you guys come to Indonesia, we have a dishes which already start the _green living_ for a long time.
You may search it, #lotek #gadogado #karedok
😊 *Go Green!*
Tbh has anyone in these comment been here? Becuase i have, TONS of times in LA. There salads ARE GOOD and ARE friggin delicious and i havent seen a salad place like them in a while.
They dont just sell those iceberg lettuce terrible salads for “Free”.
Maybe you think they’re overpriced but in la, they are perfect for that whole scene. And the food is good. Maybe not hte most healthies (they cook all their rice with tons of oil and same with their veggies). But it’s dang delicious and the service is also fantastic.
Stop being lazy and make your own fucking salad. Has society gotten to the point where they can't make a God-damn salad?
I cook at home. It's much healthier and it saves me money so I can live a debt free lifestyle. So I can use all the money I've saved in purchasing more houses and rent it out to millenials who spends $15 for a salad.
Lol of course it’s better to cook n eat at home. That applies to all food not just salads~
Tbh i dont remember these salads costing $15 at all...maybe there was a price hike that i dont know about! Either way more power to you for doing what you want to do!
@@terriesmith8219 Some millenials who buy $15 salads are also living a debt free lifestyle. Some people prefer using their time to make millions rather than spend that time making a salad. It is good to cook at home especially to those who enjoy making their food. But not all people are the same. Don't judge others who prefer buying food rather than making them.
@@j.a3889
Are you a millionaire?
And I can judge anyone I want. It's called free will.
If you don't like it, then take a hike or go pound sand.
I don't tell you want to do, so who give you the right to tell me who I can and cannot judge??
I first had it in 2017. It's so good! And I feel healthy when I have it. I need one near me!!
Jay Kay good for you is cheap to make it your self
Salads are usually free at any restaurant
not these kind. Keep enjoying ur bland olive garden free salad
@@ladhkay you can spend less money and make better shit at home but millennials cant cook because of their short attention spans
Yeezy why are you going so hard for these salads in the comments 😂?
I feel you but that’s iceberg salad usually with just some shredded carrots and (hopefully) grape tomato. Not quite the same as an actual premium salad.
@@logoutyaphone lol
Tbe comments are so surprising. I can but refuse to replicate their salads at home. Some ingredientes they roast' others they pickle, they chop them in difderent ways for multiple textures, the seasoning in their grains is on point ans their dressings are the sh*t. I make salads at home but don't have the time to make them as elaborate. Sweetgreen is an honest company and their product is real good. Quit hating.
I never heard of this health chain restaurant , but here in NOLA we have "city greens"
did my mans just slip in there he's using DNA data to design salads?
I love sweet greens because finally there’s fast food that’s healthy and yummy
Samantha Schumann there is no such thing is healthy fast food
so 3 privileged white guys had rich families who gave them 300k...
what *is* a start-up anyway? what makes it different to any ordinary business model?
I love salads💕
I'd love to know where my food and products really come from
never heard of this place until now
It's my FAVORITE PLACE❤
Taking $$ from your foolish peers. Ultimate score!
1 billion dollar for making salad i smell money laundry
Tè food exists for blockchain for food I dont think consumers care about where their crunchy water comes from lol
I work for sg, I love it.
Nice 🔥🔥🔥
I'd love to know how this business is doing now that a ton of their customer base are now working from home.
Wow the Chipotle of Salads🥗
New billion dollar business idea in food business, is to come up with the next Chipotle of...🤔
I think it’s great! We need more food company that cares about people’s nutritional needs and health instead of just selling cheap addictive toxins like alcohol,drugs and sugar and chemical soaked ingredients!
Always busy during the lunchtime
You forgot to say if they still get along.
Very cool story!
What's great with Sweetgreen is the customer support they have, specially via chat and email...
Soooooo good 🥰
One of the best watches ever
LOVE sweetgreen!!!!!
300 million + population
And an innovative/quality product lead you to be a billionaire 💪
So plant base foods costs more than agriculture meat in America?
Their profit margin must be OP
I just saw a video about why millennials can’t afford houses
Why because they eat sweetgreen? Honey we are out here affording sweetgreen and owning multiple properties as millennials.
@@gavip24 What are you, nuts? I am a millennial and like many others struggling far less knowing that I will never be able to own a house on my salary.
What I'm seeing from so many of these businesses is they grow out of hype. Marketing here I come.
According to CNBC all start ups are 1 billion dollars company. What a way to do paid ad campaign
Trading green dollar for green leaves 🤣🤣
They mentioned blockchain and cashless. But do they accept bitcoin?
Cashless society is not good. Too much tech dictating our lives isn't right.
@@KPlyf - Fiat currency is what's bad. Not decentralized currencies.
"The next big thing" when this is already 11 years old LMAO
Wow! We die creating something useful and scientific for public and these are $1B , a salad waala company 😂😂😂
But there was a salad chain in the 2000s that went out of business 🤷🏾♀️ Souper Salad 🤔
Startup Bubble.
What a Total BS I wonder how much CNBC got for just commercial
Everyone is a billion dollar startup 🙄🙄🙄🙄🙄
1 billion dollar for making salad i smell money laundry
@@zerohour2703 oh for sure. Or someone is cooking the books.
They're a billion dollar start up because the company has been valued that high by actual private equity companies.
@@dkiperman so all made up?
@@MommaKnowsBestest the value of everything is made up. The value of a home when it hits the market is pretty much what someone is willing to pay for it. The value of this startup is based on what these private equity companies say it is valued at. The value is roughly tied to the company's projected future net income. Of course it is made up. That's how every company is valuated. Welcome to planet Earth.
Lol did they just name Corey Booker ?😂
Amazon will buy them just like they did with Whole Foods
I really like them being bound to local doctrines and thus serving the local food producers and consumers and their marketing works, (that's what you get when you pay these people tons of $$$$), but I dislike their obsessive millennial tech focus. When you're pitching to investors you're telling about your future plans and I'm not sure if their ABC - AI, Blockchain and Ceasar Salad- will be living up to the hype created - if any, at all.
AI could be interesting in suggesting personalized options of course and to predict food orders. There's a potential great use case.
Blockchain has been the biggest fad in recent years and it does have use cases for payments, tracking and supply chain, but placing the trust issue on your food producers is like engaging with a party that you don't trust by definition. Why would food producers want to compromise their food quality? Of course they wouldn't, because they care about their produce - they're high end crop farmers.
I'm also not sure what value it would give to your users, as they already know that their veggies are coming from local farms.
I don't see it working out anytime soon and I'm pretty sure that investors just got extra triggered by the supposed tech to be involved. Either way, they're very inspiring entrepreneurs and I wish them all the best, including more affordable prices for the main public.
P.S If anyone knows about their blockchain plans, please update me.