Amplitude reference price set at $35 per share ahead of Nasdaq debut

Nasdaq set a reference price of $35 per share for data analytics company Amplitude, projecting a market value for the San Francisco-based startup  at about $3.6 billion based on the outstanding shares listed in a statement. 

The shares will begin trading on the Nasdaq on Tuesday under the symbol AMPL, without Amplitude raising any capital. Morgan Stanley and other banks are advising Amplitude on listing of its stocks.

According to its filings with the U.S. Securities and Exchange Commission, the company, which raised $150 million Series F in June, increased its revenue in the first six months of the year to $72 million from $46 million in the same period of 2020, while its net loss remained stable at approximately $16.5 million

Providing solutions for product, marketing, engineering and other teams to let them have detailed product analytics,  the company works with customers such as Walmart, Atlassian, Burger King, Ford Motor Co. 

Amplitude saw a 50% year-over-year revenue growth in the fiscal year 2020, with 400 new customers and 15 customers at or above $1million.