Noom, the maker of a controversial weight reduction app, is on the lookout for a brand new CEO to switch co-founder and CEO Saeju Jeong.
Noom Inc., the maker of a controversial weight reduction app, is on the lookout for a brand new chief govt officer to switch co-founder and CEO Saeju Jeong.
Jeong will stay within the put up whereas the New York-based firm conducts an exterior seek for a successor, a spokesperson confirmed. He’ll turn into govt chairman when a brand new CEO is known as, the corporate stated Friday in an announcement. Noom’s different co-founder, Artem Petakov, is president of the corporate.
Noom, which launched its weight-loss app in 2016, was valued by traders at $3.7 billion in 2021. Its app color-codes meals into classes like inexperienced and yellow, tracks energy and provides life-style suggestions in an try to assist customers shed weight and preserve it off. A subscription to Noom prices about $60 a month.
The carefully held firm instructed Bloomberg in July that it introduced in about $400 million in income in 2020. Noom has raised greater than $650 million, in accordance with Crunchbase knowledge.
In July, Noom paid $56 million to settle a lawsuit that alleged it tricked customers into robotically renewing their subscriptions.
