Fast-Growing Analytics Startup Amplitude, Founded By Forbes 30 Under 30 Alums, Files To Go Public
Analytics startup Amplitude filed confidentially to go public in a direct listing today, just one month after raising $150 million in new funding at a $4 billion valuation led by Sequoia.
Spenser Skates and Curtis Liu, Forbes 30 Under 30 alums, and Jeffrey Wang founded the San Francisco-based firm in 2014. It made the cut for the Forbes list of Next Billion-Dollar Startups in 2018, on its way to a $1 billion valuation in 2020. Its customers, which include Ford, Burger King, Walmart, Atlassian and Gap, use Amplitude’s software to optimize their products.
For Peloton, for example, Amplitude relied on data to help create a virtual community on their in-home bikes to keep people interacting with the product. And for Intuit, it helped identify a reason so many users of a new product for self-employed people never sent invoices was its poor interface with Gmail—allowing Intuit to create a plug-in to make invoicing easier for Gmail users and gain rapid adoption.
Demand for Amplitude’s product spiked during the Covid-19 pandemic as companies had to figure out how best to engage customers on their online platforms. Revenue soared past $100 million, up from some $45 million three years earlier.
