Sweetgreen Moving Its HQ, 30 Employees To LA
Sweetgreen has sprouted up from a single location in Georgetown to 39 locations throughout the country and has its sights set on an even bigger expansion.
The salad and yogurt chain that was founded by three Georgetown graduates in 2007 is moving its HQ to Los Angeles in preparation for a West Coast expansion, the Washington Post reports. The company has no plans to lay off employees as a result of the move and will keep its offices in Northwest DC as well as an office in New York City.
The company opened its first location in Los Angeles last year and followed that with two more locations in California. It's targeting an opening of the LA office by the end of March with 30 employees, while DC will shrink from 45 employees to 15.
Sweetgreen has become a darling among the investing and hedge fund crowd. The company has raised $95M in venture capital funding to date, with its most recent round bringing in $35M from T. Rowe Price back in July. Sweetgreen is definitely a name to watch in the always fascinating fast-casual market. [WP]