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China's rapid urbanization and changing diets have fueled a growing obesity crisis, with projections showing that by 2030, 70.5% of adults and 31.8% of children may be obese

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Compare Noom's $3.7B valuation at its May 2021 Series F round to the legacy incumbent WeightWatchers (NASDAQ: WW) at $890M revenue in 2023 (down 15% YoY) with a $140M market cap (0.2x multiple), GLP-1 competitor Hims & Hers (NYSE: HIMS) at $872M revenue in 2023 (up 65% YoY) with a $3.95B market cap (4.5x multiple), and telehealth therapy company Talkspace (NASDAQ: TALK) at $150M revenue in 2023 (up 26% YoY) with a $431M market cap (2.8x multiple)

Stability matters when you are drawing precise doses