The maker of popular screen-less fitness bands Whoop is considering an IPO within the next two years and is exploring adding glucose monitoring to its health-tracking platform, Bloomberg writes.

Founder and CEO Will Ahmed said the business is ready to go public, as the company has expanded its portfolio to include proprietary technology, hardware, software, analytics, and accessories and apparel.

Ahmed has previously said that Whoop plans to go public, but he did not specify a timeline.

Bloomberg notes that a potential IPO would strengthen Whoop’s position as one of the leaders in wearables and health tech, particularly in the growing segment of screen-less gadgets that serve as alternatives to smartwatches.

The Whoop platform was originally created for professional athletes and designed to help already physically fit and competitive users optimize their performance, Bloomberg writes.

During the pandemic, the company recorded a surge in subscriptions as more people began using the device for general health and wellness monitoring. According to the company, subscriptions have increased twentyfold since 2020 and have grown 75% in the last two years.

Based in Boston, Whoop was founded in 2012 and now has 725 full-time employees, up nearly 200 from two years ago. Ahmed said most of the company’s revenue and audience growth in recent years has come from markets outside of the U.S. The company now operates in 60 countries, and 60% of its sales come from international markets. Four years ago, the U.S. accounted for about 70% of the user base, Bloomberg writes.

The AI translation of this story was reviewed by a human editor.

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