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Angel Investor (Individual)

Investments

7

Portfolio Exits

1

About Jonathan Neman

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Latest Jonathan Neman News

Sweetgreen hires former Starbucks exec Rossann Williams as COO

Feb 5, 2024

Williams, who left the coffee chain in 2022 following a corporate reshuffle, will oversee operations, real estate and development and supply chain at Sweetgreen. Published Feb. 5, 2024 Rossann Williams was appointed COO of Sweetgreen in February as the chain continues to grow and open more automated kitchens. Permission granted by Sweetgreen Dive Brief: Williams joins the chain as Sweetgreen targets more suburban locations  and plans to automate all future restaurants with its Infinite Kitchen system within the next five years. Dive Insight: In her new role, Williams will oversee operations, real estate and development and supply chain, according to the press release. Her experience at Starbucks has prepared her to support Sweetgreen’s ongoing growth strategies. At Starbucks, where she last held the title of EVP and president of North America retail, she oversaw 16,000 stores, helped open thousands of new locations and improved same-store sales. A William Blair report noted that while Williams was EVP and president of North America retail at Starbucks from 2018 to 2022, average weekly sales rose 30% and over 700 new locations opened during that time. She also held several leadership positions, including SVP, global and Americas operations services. Prior to Starbucks, she worked at Blockbuster for five years and Toys “R” Us for six years, according to her LinkedIn profile. “Rossann is an industry veteran with a proven track record in driving sustainable growth of global, iconic brands and leading teams to generate profitability,” said Jonathan Neman, Sweetgreen CEO and co-founder. “Rossann complements the existing skills and experience of our leadership team as we pursue our next chapter of growth.” Williams marks the latest addition the the fast casual chain’s executive team . Last August, it hired Michael Kotick as head of marketing and Chad Brauze as head of culinary. “Alongside sweetgreen’s founding triad and its long-term CFO, we believe the wider lens of experience afforded by the new hires bodes well for the company’s ability to scale, innovate, and hone its store-level execution—of particular importance as sweetgreen enters a year that will see a wider rollout of Infinite Kitchens,” Sharon Zackfia, analyst at William Blair, said in a report emailed to Restaurant Dive. The chain’s chief development officer left in December. Timothy Noonan, VP of operations, strategy and restaurant concept design, was promoted to SVP, development and took on many of the CDO’s former responsibilities. Sweetgreen, which has over 220 units, expects to open seven to nine Infinite Kitchens this year and two to four retrofits, Neman said during a November earnings call. The company expects to open between 23 and 28 new stores this year, with Infinite Kitchen openings expected to “be weighted towards the back half of the year.” Retrofits will be completed in stores in high-volume urban locations that will benefit from faster throughput. This move will likely translate into higher revenue and return on capital, Neman said. “We remain focused on expanding our footprint in a capital-efficient manner, to capture the white space and expect to see our real estate pipeline resume on a higher trend line during 2025,” he said. Recommended Reading

Jonathan Neman Investments

7 Investments

Jonathan Neman has made 7 investments. Their latest investment was in Meati Foods as part of their Angel on June 08, 2023.

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Jonathan Neman Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/8/2023

Angel

Meati Foods

No

7

7/14/2021

Seed VC

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$99M

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10

9/2/2020

Series A

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$99M

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10

4/22/2019

Angel

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$99M

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10

2/19/2018

Series A

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$99M

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10

Date

6/8/2023

7/14/2021

9/2/2020

4/22/2019

2/19/2018

Round

Angel

Seed VC

Series A

Angel

Series A

Company

Meati Foods

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Amount

$99M

$99M

$99M

$99M

New?

No

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Co-Investors

Sources

7

10

10

10

10

Jonathan Neman Portfolio Exits

1 Portfolio Exit

Jonathan Neman has 1 portfolio exit. Their latest portfolio exit was Lola on December 01, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/1/2023

Acquired

$99M

2

Date

12/1/2023

Exit

Acquired

Companies

Valuation

$99M

Acquirer

Sources

2

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