Benzinga | Sep 29, 2021 12:30PM EDT

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

* Amplitude Inc (NASDAQ: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 (NASDAQ:CMCSA) NBCUniversal, PayPal Holdings Ltd (NASDAQ:PYPL), Peloton Interactive Inc (NASDAQ:PTON), and Instacart.

* Price Action: AMPL shares traded lower by 2.60% at $53.37 on the last check Wednesday.