Smart ring maker Oura files for US IPO
- 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.
24 Articles
24 Articles
The smart ring company has been growing rapidly. Oura last released a new ring model in May.
Finnish-based Oura published its IPO prospectus in the United States late Thursday evening. The prospectus talks about big growth.
The Ora company, known for its production of smart rings following health, announced its file for general subscription, indicating a significant growth in its revenue and expansion of its audience base. Ora's file for general subscription, Ora, the smart ringmaker, submitted its file for general subscription. The file submitted to the Securities and Exchanges Commission on Thursday showed that Ura's revenues jumped... the article appeared to pre…
(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...
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