💍 The Rise of the $5B Ring

By now, having a watch that can track your steps is old news. 

But what if I told you there is a ring that can track your sleep, activity, and stress levels.

Yep, you read that right.

The Oura Ring isn’t just a fitness tracker; it’s a $5B wellness giant that has reshaped how we approach health. And it’s fashionably disguised as jewelry.

In just a few years, the Oura Ring has gone from a niche gadget to a mainstream phenomenon endorsed by celebrities, athletes, and wellness enthusiasts.

How did the Oura Ring climb its way to the top? What strategies fueled its success? And how can you apply these insights to your business?

Here’s what we got for ya:

• 💸 From $0 to $5B

•  💵 Oura’s Secret to Monetizing Wellness

•  🥷 Oura VS Apple Watch

Read time: 4 min 35 sec

💸 From $0 to $5B

Back in 2013, a group of engineers and wellness enthusiasts wanted to tackle a growing problem: people didn’t understand how their daily habits affected their health.

Their solution? A discreet, high-tech Ring that could monitor sleep, activity, and heart rate variability.

It wasn’t an instant hit. Early prototypes were bulky and expensive, and people weren’t ready to ditch their wristbands for a Ring.

But the team at Oura didn’t give up. They spent years refining their design and technology, eventually launching a Kickstarter campaign in 2015. It raised $651,000.

The breakthrough came in 2018 with the Oura Ring Generation 2. It was lighter, sleeker, and packed with features. Suddenly, tons of people were wearing the ring, from Prince Harry to NBA players.

In 2020, the company gained even more traction by introducing temperature-tracking capabilities, which could detect early signs of illness—a timely addition during the pandemic.

Today, Oura Rings are synonymous with cutting-edge wellness. And they’re not stopping anytime soon.

More on this:

• Is the Oura Ring worth it? Let's hear from the NYT…

• CNBC Review on the Oura Ring 4

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💵 Oura’s Secret to Monetizing Wellness

The Oura Ring isn’t just about hardware; it’s a subscription-driven goldmine.

Sure, you pay $200–$400 for the ring itself. But Oura’s real revenue driver is its monthly membership, which costs $5.99/month or $69.99/year.

Here’s why this model works:

#1 Continuous engagement: Unlike a one-and-done purchase, Oura’s subscription keeps users invested in the product.

#2 Exclusive insights: Subscribers get personalized health data, recommendations, and trends. It’s like having a wellness coach in your pocket—or rather, on your finger.

#3 Community features: Oura encourages users to share their progress and compete with friends, creating a more engaging experience. 

This strategy has paid off big time. In 2023 alone, Oura brought in over $220M in revenue.

🥷 Oura VS Apple Watch

First it was the Fitbit. Then the Apple Watch. 

Is the Oura Ring the next big thing?

Today, people want to know everything about themselves. 

What’s my DNA? How long was I in REM sleep last night? 

That’s why the fitness gadget business is so big.

How does the Oura Ring compare to a heavyweight gadget like the Apple Watch?

Let’s break it down:

#1 Fashion: I know from experience, the Apple Watch tan line is brutal. From a fashion standpoint, wearing a ring is more convenient than a bulky watch. A ring is stylish, subtle, and doesn’t scream “tech gadget.”

# 2 Battery life: While the Apple Watch needs daily charging, the Oura Ring lasts up to 8 days on a single charge. Convenience = key.

#3 Specialized focus: Oura hones in on sleep and recovery data, offering insights that are more detailed than Apple’s broader health metrics. The Apple Watch is better for people wanting to receive texts and alerts too.

#4 Price point: The newest Apple Watch is $399. The newest Oura Ring costs $349. At first glance, $349 might seem steep for just a ring. But if you’re focused on sleep tracking and recovery more than having a second phone on your wrist, it may be worth it.

#5 Privacy: Oura’s data collection practices prioritize user privacy more than many competitors, a big win in today’s tech landscape.

That said, Apple has its advantages: a larger ecosystem, more features, and integration with other Apple devices.

But for those focused on optimizing health, Oura carves its own niche and dominates it.