The Short Version
Oura filed confidentially for an IPO after reaching an $11B valuation, 5M paid members, and a $1.5B annual revenue run rate.
Oura filed confidentially for an IPO after a $900 million investment pushed its valuation to $11 billion, with 5 million paid members and a $1.5 billion annual revenue run rate backing the number. A finger-worn health tracker commanding that kind of capital would have sounded absurd five years ago. Public markets will now decide whether 5.5 million units sold and 4x revenue growth outweigh the subscription complaints already piling up from existing users.