May 19, 2021
Noom Inc., a popular app targeted to help weight loss, is said to have obtained funding from the private equity firm Silver Lake ahead of a potential IPO.
Noom is said to be worth $4 billion in its latest funding round, according to a Bloomberg report yesterday. The company, which hopes to be valued at $10 billion when it goes public, has met with advisors to talk about a possible IPO this year or next.
Noom has grown rapidly, from an estimated $237 million in revenues in 2019 to $400 million last year. The company has been advertising heavily on TV lately.
Noom in 2019 completed a $58 million financing, led by Sequoia Capital,. Groupe Arnault's tech arm Aglaé Ventures, Jan Koum, co-founder of WhatsApp, Tony Xu, co-founder of DoorDash, Josh Kushner, co-founder of Oscar Health, Scooter Braun, founder of SB Projects, and existing investor Samsung Ventures.
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