Notice of funding of a capital increase through 3rd-party allocation of newly issued shares for smartphone app developer/operator Noom Inc.
Feb. 04, 2014
Recruit Holdings Co., Ltd.
Recruit Holdings Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President and CEO: Masumi Minegishi) will fund a capital increase, through its investment subsidiary Recruit Strategic Partners Inc., in Noom Inc. (Headquarters: New York, co-CEO: Saeju Jeong), the developer and operator of Noom, an application for smartphones.
1. Goal of this investment
Noom Inc. plans to utilize this funding to bolster the development and operation of its Noom smartphone application and reinforce its marketing to support future growth.
Through this investment, Recruit aims to acquire information relating to the mobile health care space, which is expected to be a growing market into the future.
2. Overview of Noom Inc.
Noom is a smartphone application offering users customized diet and fitness plans. In addition to the exercise, meal, and weight tracking and management functions offered by many similar services, Noom provides an AI-driven personal support service that analyzes user goals, progress, and habits, and proposes optimized fitness plans.
| (1) | Company name | Noom Inc. |
|---|---|---|
| (2) | Representatives | Saeju Jeong, Artem Petakov |
| (3) | Headquarters | 530 W 25th St., Suite 502, New York, NY 10001 |
| (4) | Established | July 2008 |
| (5) | Main business | Development/operation of applications for smartphones |
| (6) | Website | http://www.noom.com/ |
3. Overview of Recruit Strategic Partners Inc.
| (1) | Company name | Recruit Strategic Partners Inc. |
|---|---|---|
| (2) | President | Akihiko Okamoto |
| (3) | Headquarters | 530 Lytton Ave, Suite231 Palo Alto, CA 94301 |
| (4) | Incorporated | September 2, 2008 |
| (5) | Main business | Startup investment business, venture capital business |
| (6) | Website | http://recruitstrategicpartners.com/ |
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