ChainCatcher report, according to Bloomberg, smart ring manufacturer Oura has filed for an IPO in the United States. The filing shows that for the nine months ended June 30, the company generated $1.21 billion in revenue and incurred a net loss attributable to shareholders of $9.24 billion (compared to a net loss of $1.83 billion in the same period last year). Over the past year, Oura sold approximately 3.6 million rings; the Oura Ring 5 starts at a retail price of $399, and the company has over 5 million paying members. Oura secretly filed its IPO application in May, and Bloomberg reports that the offering could raise up to $3 billion, valuing the company at over $16 billion, with plans to list on the Nasdaq under the ticker symbol OURA. Goldman Sachs, Morgan Stanley, JPMorgan Chase, and others are serving as underwriters. On Wednesday, Oura announced an expansion of its board, adding executives from Netflix and Robinhood.
Smart Ring Maker Oura Files for U.S. IPO, Targets Nasdaq Listing
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Summary
Smart ring maker Oura has filed for a U.S. IPO, targeting a Nasdaq listing under the ticker OURA. The company reported $1.21 billion in revenue for the nine months ended June 30, with a net loss of $924 million. Oura has sold 3.6 million rings over the past year and has 5 million paid members. The IPO could raise up to $3 billion, valuing the company at over $16 billion. Goldman Sachs, Morgan Stanley, and JPMorgan are serving as underwriters. On-chain data indicates rising interest in altcoins to watch, as wearable technology gains momentum. Oura has added executives from Netflix and Robinhood to its board.
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