WW - Weight loss app Noom is said to get financing from Silver Lake ahead of possible IPO

Noom Inc., an app targeted to help weight loss, is said to have obtained funding from PE firm Silver Lake ahead of a potential IPO.Noom is said to be worth $4B in its latest funding round, according to a Bloomberg report yesterday. The company, which hopes to be valued at $10B when it goes public, has met with advisors to talk about a possible IPO this year or next.Noom competitors include WW International (WW), Nutrisystem (NTRI) and Medifast (MED).Noom in 2019 completed a $58M 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.See SA author Paul Franke's piece on WW from last month entitled "Weight Watchers: A Beneficiary Of Both Stimulus Checks And E-Commerce Trends."

For further details see:

Weight loss app Noom is said to get financing from Silver Lake ahead of possible IPO