A smart ring company Oura has appointed new members to its board ahead of the expected stock exchange listing.
The most interesting new name for Finns is the one previously known as the CEO of the courier service company Wolt Mickey Kuusi.
The US courier company Doordash first bought the Finnish-based Wolt in a billion-dollar deal in 2021. Last year, Doordash also acquired its British competitor Deliveroo in a billion-dollar deal.
In the store, Kuusi moved from Finland CEO of Deliveroo and moved to London.
Spruce in addition, now join Oura’s board Jason Warnick, Leslie Kilgore and David Wed.
Warnick has a background as an executive at Amazon and Robinhood. Kilgore has worked for Netflix and Amazon, while Sze is a venture capitalist.
The new members will join Oura’s board, where they already are Timo Ahopelto, Dennis DurkinCEO of Oura Tom Hale, Wen Hsieh, Eurie Kim and leading the government David Shuman.
Financial media Bloomberg reports based on its sources, that Oura would aim to collect up to three billion dollars, or almost 2.6 billion euros, in connection with its initial public offering.
According to Bloomberg, the company is aiming for a valuation of as much as 16 billion dollars. Last fall, private equity investors defined Oura’s value 11 billion dollars.
Oura manufactures rings that transmit the user’s health and well-being information to the phone. It confirmed the long-circulating rumors in the spring about plans to list on the stock exchange in the United States.
The exact moment has not been made public, but the listing is expected to take place in September.
Oura has moved its parent company to the United Statesbut it still has product development and other operations in Finland. In any case, the listing is significant from a Finnish point of view, because Wall Street would once again have Finnish consumer electronics.
Oura also still has Finnish owners, the most significant of which is the private equity company Lifeline Ventures, which owns 6.73 percent of the company through its two funds.