This Analytics Firm Gains Additional $1B In Value On Nasdaq Debut

Amplitude Inc AMPL opened 43% above their reference price in their Nasdaq debut on September 28, notching up a valuation of about $5 billion, Reuters reports. The stock opened at $50 per share, up from the reference price of $35 per share.
Amplitude gained from the pandemic triggered digital transformation as companies seek to optimize customer experience online by using analytical tools.
The Benchmark-backed analytics firm, which confidentially filed for a direct listing in July, was worth $4 billion after raising $150 million from Sequoia Capital and Singapore's sovereign wealth fund GIC in June.
Amplitude provides data analytics tools to customers, including Comcast Corp's CMCSA NBCUniversal, PayPal Holdings Ltd PYPL, Peloton Interactive Inc PTON, and Instacart.
Price Action: AMPL shares traded lower by 2.60% at $53.37 on the last check Wednesday.