"On November 6, Sweetgreen announced that it was selling Spyce, its division that developed and made its Infinite Kitchen technology to automate the assembly of its bowls and salads. The acquirer is Wonder, the " restaurant and mealtime superapp," as Fast Company dubbed it earlier this year. With that, it's time to eulogize Sweetgreen's star-crossed life as a tech company. No more dreams of AI, blockchain, or robots."
"Sweetgreen receives $100 million in cash and $86.4 million in Wonder stock, a positive return given that it acquired Spyce in 2021 for a total cost of $70 million. Wonder, which is privately held, was valued north of $7 billion in May after it raised another $600 million. Sweetgreen, which went public four years ago, has a market cap under $750 million."
"After Sweetgreen's disastrous Q2 2025 earnings report, I wrote that Infinite Kitchen represented "the first effort by the company to use technology to solve its biggest problem-operations-rather than mere magic dust sprinkles to make the company look like something it's not." Now the company's latest earnings are worse, and it doesn't own what had felt like a competitive advantage. "A lot of other companies are trying to figure out how to add automation to their experience and are not willing to start over,""
Sweetgreen sold Spyce, the division that developed Infinite Kitchen automation, to Wonder for $100 million in cash and $86.4 million in Wonder stock. Sweetgreen had acquired Spyce in 2021 for about $70 million, so the transaction yields a positive return. Wonder was valued above $7 billion after a May funding round, while Sweetgreen's market capitalization is under $750 million. The sale removes a proprietary automation capability that had been presented as an operational advantage. Sweetgreen's recent earnings deteriorated and its stock declined, raising questions about past strategic choices and timing.
Read at Fast Company
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