Explore the journey of Saeju Jeong, co-founder of Noom, as he disrupts the weight loss industry with a mission-driven approach. Learn about the strategic pivots, leadership, and cultural impact at Noom, along with the speaker's personal journey from curiosity to a mission-driven entrepreneur. Discover the importance of having a clear mission in entrepreneurship and the challenges immigrant entrepreneurs face in New York City. Join the conversation on healthcare entrepreneurship, vision, and building confidence in the startup world.
Noom's success stems from strategic pivots and a mission-driven focus.
Seju Jung's perseverance and commitment to the company's mission are instrumental in overcoming obstacles.
Fundraising success of Noom attributed to Seju's determination, storytelling abilities, and resilience.
Deep dives
Championing the Startup Scene
The inaugural program of the new corporate series, Start-Up Scene Entrepreneurs of Tomorrow, initiated by the Korea Society, aims to highlight successful Korean American and Korean startup entrepreneurs making strides in the US and South Korea. Emphasizing the importance of startups in shaping the economic landscape, the podcast discusses the significant growth of tech-intensive businesses in South Korea and the thriving startup sector in the US.
NUEM's Evolution and Mission-Driven Approach
NUEM's journey, led by co-founder Seju Jung, underscores the importance of strategic pivots and a mission-driven focus. Starting with a stationary bicycle model and transitioning to a comprehensive digital health platform, NUEM's success lies in adapting to market needs and providing holistic wellness solutions. The podcast highlights Seju's perseverance in navigating challenging times, showcasing how commitment to the company's mission has been instrumental in overcoming obstacles.
Raising Capital and Overcoming Adversity
The podcast delves into the fundraising journey of NUEM, where Seju's determination and storytelling abilities played a crucial role in securing investments, amounting to $699 million. Seju's personal account of facing bankruptcy, pitching to a Japanese health insurance CEO, and ultimately winning his trust resonates as a testament to resilience in the face of adversity. The narrative unveils the pivotal role of perseverance, honesty, and strategic planning in steering NUEM through turbulent times towards sustainable growth.
Striving for Mission
The speaker emphasizes the importance of staying true to the company's mission amidst challenges and growth. Discussing the transition from CEO to executive chair, the speaker highlights the necessity to focus on a durable growth strategy and aligning actions with the company's core values. By balancing honest leadership, empathy, and curiosity, the speaker advocates for aligning business success with a strong mission-driven approach.
Global Opportunities and Guidance
Addressing queries about entrepreneurship in challenging times, the speaker encourages starting companies now, citing future economic recoveries. Emphasizing the abundance of available capital and market demands for genuine business models, the speaker predicts a surge in public tech listings and a nurturing investment climate. Balancing user-centric strategies with profit motives, the speaker underscores the importance of seeking financial independence to sustain business growth and positively impact communities.
January 24, 2024 - Join us for our inaugural program of Startup Scene: Entrepreneurs of Tomorrow, featuring Saeju Jeong, the Co-Founder and former CEO, and now serving as Executive Chair of Noom. Noom, established in 2008 with Saeju’s friend, Artem Pekatov, introduced a pioneering weight loss app in 2017, integrating behavioral psychology with an empathetic human approach. Since then, Noom has disrupted the weight loss industry, achieving a valuation of $3.7 billion, and benefited over 50 million people with their health and diet.
Saeju’s unwavering, mission-driven leadership has been behind the remarkable success of Noom. As the visionary behind Noom, Saeju guided the company through the many strategic pivots that ultimately led to the discovery of Noom’s unique business model. We invite you to explore Saeju’s compelling entrepreneurial journey, marked with soulful tenacity toward a healthier-choice platform for consumers. This conversation took place on January 24 at 6:00 pm at the premise of The Korea Society.