Smart Ring Maker Oura Files Confidentially for IPO

Summary

Ed Ludlow reports that Oura Health, maker of the smart ring, has confidentially filed for an IPO in the US. The filing involves top banks, and the company is seen as an IPO candidate with a valuation around $1 billion. Ludlow also discusses Oura's hardware and subscription model, and its strategy to target the male longevity market.

• Oura Health filed confidentially for a US IPO, according to a Bloomberg source.
• Goldman Sachs, Morgan Stanley, JPMorgan, Allen & Co., and Jefferies are on the deal.
• Oura was valued at about $1 billion in a private round closed in October.
• Comparison made to Whoop, valued between $1B and $10B in private markets.
• Oura is primarily a hardware company with a subscription for full data access.
• The IPO is seen as a marketing exercise to target the male longevity segment.
• Ed Ludlow disclosed he is an Oura ring wearer and shared his sleep score.