Noom was founded in 2008 by Artem Petakov, and Saeju Jeong. Reuters reports that the company has hired Goldman Sachs to prepare for a potential IPO. While the company has not publicly confirmed this or discussed a timetable, a number of prominent analysts believe that an IPO could be near on the horizon. These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Noom is a subscription-based wellness app that allows users to track food intake and exercise. The app is known for incorporating mental health and other lifestyle factors into its programs. The company has seen rapid growth since the start of the pandemic, nearly doubling its revenues in 2020. That same year, Noom acquired Opus Growth, a mass media marketing company. The company has received over $650 million in funding from investors including Silver Lake, Serena Ventures, Samsung Ventures, Sequoia Ventures, and Anchor Capital. TechCrunch reports that the company could be looking towards an IPO with a $10 billion post-money valuation.