Quick-Fire Opportunities: Noom for Improvement and Friend-Making for Grownups
Source: Crunchbase
Weight loss app Noom has raised $650m since its 2008 launch, and was valued at $10B last year. It’s not surprising given the app has been downloaded 45m times and helps the average user lose 3% of their body weight.
Now could be a good time to build a competitor. Noom recently laid off 10% of their team, including plenty of coaches, which means there’s talent up for grabs.
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The signal: As more people wave goodbye to dairy, alternative milk is slowly taking over; it has already cornered 13% of the market. With the exception of soy milk, all of the alt-milks have been on the up, with some of the newer entrants including hemp milk and pea milk. Other alt-products are getting attention, including cashew cheese, with 18100 searches per month.
Capitalizing on the Airpods market, making more money than Shopify
The signal: Since killing the headphone jack, Apple has graced the world with AirPods, which did an estimated 60m units in 2019. That means AirPods alone are bringing in approx ~$10b in revenue, more than Twitter, Shopify, or Spotify, to name a few popular tech giants. Opportunity lies in Apple opening up SiriOS or the wave of iPhone accessories (including cases, cleaning kits, hooks, and keychains) which have shown “hockey stick” growth alongside their hardware predecessor.
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