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Smart ring maker Oura files for US IPO
The company says its platform can reach larger populations as revenue rose to $1.2 billion in the nine months ended June 30.
- On Thursday, Oura, maker of the Oura Ring, filed paperwork for a U.S. initial public offering, planning to list on the Nasdaq under the ticker "OURA."
- Revenue jumped 74 percent to $1.21 billion during the nine months ending June 30, as Oura sold 3.6 million rings over the past year and maintained approximately 5 million paid members.
- Building on expansion since being founded in Finland in 2013, the firm raised over $900 million last year at roughly $11 billion valuation and now seeks $16 billion.
- While marketing its $350 to $400 rings as an "always-on health intelligence platform," Oura faces a proposed class action lawsuit alleging misleading sleep-tracking accuracy; the company vowed to "defend against" the claims.
- Data representing nearly 42 billion hours of physiological information powers Oura's AI and machine-learning models, positioning the firm to widen its audience through health plan and employer integrations in coming years.
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12 Articles
(Seoul = Yonhap News) Reporter Lee Seong-han = Oura, a manufacturer of smart rings that track and display various health-related records, has applied for an initial public offering (IPO) on the U.S. Nasdaq...
·Seoul, Korea (the Republic of)
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Coverage Details
Total News Sources12
Leaning Left3Leaning Right1Center3Last UpdatedBias Distribution43% Left, 43% Center
Bias Distribution
- 43% of the sources lean Left, 43% of the sources are Center
43% Center
L 43%
C 43%
14%
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