Whoop, the new favorite of the middle class, just raised $575 million, with a valuation of $10.1 billion. According to CEO Will Ahmed, this is the last round of private funding, and the next step is preparing for an IPO. Whoop is basically a fitness tracker that monitors sleep, stress, and body recovery. The key feature? No screen—you can’t check the data in real-time. Back in 2021, SoftBank led a round at a $3.6 billion valuation, and now it’s nearly tripled in four years. Currently, there are 2.5 million members, and the company’s annual operating cash flow has already turned positive. I think the investor lineup for this round is super interesting— Qatar’s sovereign wealth fund and Mubadala joined in. Even Cristiano Ronaldo, LeBron James, and Rory McIlroy invested. Oh, and I just bought one myself. Let’s see what’s so special about this strap— no screen, yet it’s powering a $10 billion IPO.