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

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
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