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Oura’s new CEO discusses the future of the smart ring –

Tom Hale Instructions As a matter of fact, the Apple Watch features one-handed and Oura Ring-like. When I point to a combination, it takes a beat. “I think it varies depending on the case of use and why you came to Ring,” the executive replied. “One of my first questions for the company was, ‘How many of the ring wearers have an Apple Watch?’ And the numbers were surprisingly high. “

Oura puts the figure at about 30% – or less than a third. It is a strange sight at first red, running in a direction other than the Oura Ring as a tracking motion. That is how I first described the product, as an object similar to a fitness device with a smaller armrest, in the form of a small intervention.

Often there is a big difference between a prospect and a consumer adoption reality. You really do not know how the world will react to your product until your product leaves the world. Oura is far from the first health-focused ring – heck, not even the first health-focused ring. However, it has put hope in a number of ways.

In a very crowded market with many smartwatches (and, indeed, one unique brand), Oura was able to make its own’s own venue. Just a month ago, the company announced that it had sold the one million ring It is an amazing look for a new product in an unconfirmed format. Much of the company’s success has come from relying on medical studies as well as collaborations on popular sports leagues, from the NBA to NASCAR.

Much of this remarkable growth has taken place in the view of Harpreet Singh Rai. Former Wall Street fence manager Singh Rai has become a true believer in the product, referring to his weight loss journey. He became an investor and board member before moving to the top position in 2018. Three years later, he announced his existence. via LinkedIn late last year.

Commenting on the company’s significant improvements, Singh Rai added, “While all these successes are very positive, I realize that is not the goal. I remember talking to another manager I liked – and he once stated that the purpose of any company is really to persevere, that is, the idea of ​​living in the world forever, beyond any one of us. “

Copyright: Brian Heater

COO Michael Chapp took on the role of interim player before Hale was announced earlier this week. The new manager brings experience to a variety of companies roles, including Adobe, HomeAway, Momentive AI and Second Life developer, Linden Labs. As Oura pushes deeper into data collection and abstraction based on feasible theories, software has become the focus of the company. But in her heart, she is still a well-equipped company – something so far, missing its job.

“Hardware is complex, it also requires discipline,” Hale said. “It requires hard, which is powerful, especially if you are trying to do something difficult. The ambition of this company is broad, big and courageous. We are trying to hold people accountable for their health and give them information and ideas to make good choices – and maybe take care of their health over time. such as the origin of the software.

The success of the company did not come without pain. In particular, the transfer of the registration service has misinterpreted some of Oura’s supporters. The company has promised in-depth ideas through its app, transferring some of the existing products behind the pay-per-view – effectively asking users to pay a certain monthly fee. a pre-packaged data as part of the previous $ 300 device. Hale said it was an issue he was focused on after being asked to join the company.

Copyright: Brian Heater

“There is a clear value for regular data and consistent investment,” he said. “In order to drive this and support the science underneath and expand into new areas beyond sleep, I think there is a reason for the registration business model. Unfortunately, most people who buy wearables pay the price and want things. it does now.I think that was a bad account of the company.The only thing I think we can do to differentiate and improve is to deliver what we said we would be part of gen. -Trinity. “

Hale points to previous Oura Ring exemptions, as well as a warning the company gave to users ahead of the start of the third generation. He also noted that the move to lower early prices and the service-oriented approach are key models for the company’s future. He cited reports of Apple and Peloton exploration of space as evidence of HaaS becoming widely accepted.

The IPO is certain to include the future of Oura, too, under the protection of Hale. Although he warns that such a move is likely to still be a long way off.

“The markets are very busy late and I think I have some work to do to get there. I don’t think we are building this company for IPO. We are not building this company IPO, we are building this company to make an impact. World Health and we are putting preventative drugs into the hands of people who can improve their lives.