Amplitude valued at $5 billion after shares jump in Nasdaq debut

A screen announces Amplitude’s direct listing outside the Nasdaq Market in Times Square in New York City, U.S., September 28, 2021. REUTERS/Brendan McDermid

(Reuters) -Shares of Amplitude Inc opened nearly 43% above their reference price in their Nasdaq debut on Tuesday, notching up a valuation of about $5 billion for the benchmark-backed analytics company.

San Francisco-based Amplitude, which confidentially filed for a direct listing in July, was valued at $4 billion after raising $150 million from Sequoia Capital and Singapore's sovereign wealth fund GIC in June.