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Healthcare

Analytics firm Amplitude reveals revenue jump in direct listing filing

Aug 30 (Reuters) - Analytics firm Amplitude on Monday revealed a 57% surge in revenue for the first half of the year as it filed paperwork with U.S. regulators for a direct listing on the Nasdaq. The Benchmark Capital-backed company enables customers to optimize their products by analyzing features that translate to better business outcomes and has benefited from strong demand during the pandemic.

Amplitude, which plans to list under the ticker symbol “AMPL”, had confidentially filed for a direct listing in July.

Founded in 2012, the startup has quadrupled its valuation since May last year and was valued at $4 billion in a funding round in June.

The San Francisco-based firm’s customers include Comcast-owned media company NBCUniversal, payments processor PayPal Holdings Ltd, fitness products maker Peloton Interactive Inc and grocery delivery firm Instacart.

A direct listing allows companies to list their stock on public exchanges without selling shares.

Separately, remittance processor Remitly bit.ly/3zAHFza and Brilliant Earth bit.ly/3zr6jlI, a sustainable jewelry company, filed for initial public offerings on Monday.

Remitly had hired investment banks to prepare for an IPO in New York this year that could value the U.S. remittance payments processor at around $5 billion, Reuters reported in May. (reut.rs/3juYZjv) (Reporting by Sahil Shaw in Bengaluru; Editing by Sriraj Kalluvila)

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