WW - Wellness app Noom is said to hire Goldman to lead IPO

asiandelight/iStock via Getty Images Noom, the operator of the weight loss app with countless TV commercials, is said to hire Goldman Sachs for an IPO. Noom is targeting an $8B valuation, double the amount it was worth in a May fundraising round led by buyout firm Silver Lake, according to a Reuters report. The IPO may come by early 2021. Noom competes with WW International (WW)., previously known as Weight Watchers, Medifast (MED) and privately held Nutrisystem (NTRI) as well as other apps. 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. Bloomberg was the first to report a Noom potential IPO in May and at the time said that Noom was targeting a valuation of $10B.

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Wellness app Noom is said to hire Goldman to lead IPO