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Performance Indicators
2019: Growth of revenue by 4 times — to $237 million
In the middle of January, 2020 the Forbes magazine published article about the Noom company founded by Ukrainian Artem Petakov. The startup drew attention of reporters thanks to fast-growing income. Data according to which in four years the application was downloaded in total more than 50 million times are provided.
In 2019 revenue of Noom made $237 million. In 2018 and 2017 revenue was measured by $61 and $12 million respectively.
Noom is the application for weight loss. However, as Petakov claims, it is not just service, and the whole business constructed on change of behavior which unostentatiously pushes people to normalize the figure. The businessman studied psychology and computer sciences and decided to integrate these two areas and to shake the weight loss industry. For this purpose he attracted artificial intelligence, the proved recommendations about psychology and also bikhevioristichesky therapy.
Noom does not consider calorie and does not dictate to the user that is and that is not present. Instead the application tries to study the user's habits, to find out that it is the cornerstone of his harmful addictions and to help it to cope with them.
Users can purchase a subscription from a month to one year. Trial version is expected 14 days and costs from $1 to $18. The average monthly cost of a subscription can be more or less — it depends on duration of the program which was selected by the user. The average price is from $30 to $49 a month. But, as the company claims, most of users buy a packet for four months for $129 — in this case month of use of service will cost $32.25. The second most popular option — the semi-annual program for $149 (or $24.83 a month). Shorter programs for one and two months cost $59 and $99 respectively.[1]
History
2016: Application launch
In 2016 application launch for Noom weight loss took place.
2008: Foundation of Noom company
The Noom company was founded in 2008
Notes
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