Home / Business and Economy / Oura Ring Eyes $3 Billion IPO, Valued Over $16 Billion
Oura Ring Eyes $3 Billion IPO, Valued Over $16 Billion
25 Aug
Summary
- Oura plans a U.S. IPO aiming for $3 billion, valuing the company over $16 billion.
- The smart ring maker's valuation has significantly increased since its last funding round.
- Oura competes with Samsung's Galaxy Ring and Whoop in the growing wearables market.
Oura, a smart ring company with offices in San Francisco and Finland, is reportedly preparing for a U.S. initial public offering (IPO) potentially next month. The offering is expected to raise around $3 billion and would value the company, which employs over 900 people, at more than $16 billion. This valuation marks a significant rise from its September funding round, where it was valued at $10.9 billion.
The wearables market has seen rapid growth and increasing competition. Oura faces rivals such as Samsung, which launched its own ring, and Whoop, a fitness band maker that has expanded its offerings to include hormone and blood-panel tracking. Oura itself has shifted its focus from a niche market of biohacking CEOs to a broader appeal centered on sleep and recovery.
Oura had previously announced in May that it had confidentially filed for an IPO. Investors are anticipated to sell a substantial portion of shares during the offering.
