Sweetgreen Files For IPO

CULVER CITY, CA — Culver City-based salad chain Sweetgreen filed for an IPO, the company announced Monday.

The company confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission, which is part of the proposed initial public offering of its Class A common stock, the company said in a news release.

"The number of shares to be offered and the price range for the proposed offering have not yet been determined," the company said.

The initial public offering is expected to start once the SEC completes its review process.

Sweetgreen was founded by three Georgetown University friends in 2007: Jonathan Neman, Nicolas Jammet, and Nathaniel Ru. The fast-casual chain started with one location on M St. in Washington, D.C. and has expanded across the U.S.

The company sources local and organic ingredients and focuses on healthy, quick meals. They make bowls, a variety of salads, soups and fresh drinks. Its headquarters and test kitchen, called the treehouse, is located above its shop at the Platform in Culver City at 8840 Washington Blvd.

In May, tennis player Naomi Osaka became the first athlete ambassador and investor to join the company. She even created her own bowl for Sweetgreen. The warm bowl includes baby spinach, cilantro, quinoa, tomato, avocado, raw carrots, tortilla chips, goat cheese, blackened chicken, lime-cilantro jalapeno vinaigrette and Sweetgreen hot sauce.

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