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Oura shelves its $2.2B IPO, citing 'uncertainty' in the market
TechCrunch • • business
Key Points:
- Oura, the smart ring maker, has indefinitely postponed its planned IPO, which was expected to raise up to $2.2 billion, citing uncertainty in the IPO market.
- The company had planned to offer 55 million shares priced between $40 and $44, valuing Oura at up to $15 billion at the midpoint.
- CEO Tom Hale emphasized that the IPO is just one step in the company’s mission to promote health and longevity, and they will wait for a more favorable market environment.
- Oura’s business remains strong, with 5.7 million paying members and an expected 90% revenue increase in fiscal 2026, up from $907.9 million in the prior year.
- The IPO delay affects liquidity for shareholders, including early investor Forerunner Ventures, which had planned to sell its 9.3% stake for about $1.2 billion, and Oura’s plans to use proceeds for tax obligations related to employee shares.
