Why Oura Put Its IPO on Pause

Oura's IPO stalled because investors saw a high-cost wellness gadget maker, not the "platform" the prospectus pitched at a $15 billion valuation.

• IPO pulled: Oura, which sought a roughly $15 billion valuation, halted its public offering last month after failing to attract enough buyers at that price.
• Platform pitch questioned: Oura's prospectus used the word 'platform' over 150 times, calling itself a 'health intelligence platform,' but 80% of revenue still comes from selling $400-$500 rings.

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