Teach a man to fish. Thanks to Saul and all the insightful board contributors that have helped to make this board my go to for investing insight and discussion. First post for me. Thought I would add to the discussion on amplitude after having opened a small (3%) position upon seeing ampl pop into the portfolios of some well respected contributors (bear and stocknovice)
The business concept is legit and growing in importance in our transitioning digital first world. It is taking the analytics of a digital experience to a deeper level. First generation analytics show traffic numbers and click patterns. The evolution of this is deeper and more granular information about the customer experience in your company’s digital environment. This helps companies answer the questions “why are people interacting with the digital experience the way that they are and how can we make it better (i.e. more profitable)” via data acquisition and analysis. SAAS in its glory. My humble guess is that this isn’t a big enough fish for google, amazon and facebook to spend the money to refine their analytics services yet but…
There are several up and coming companies that are in the space. Here is a brief look at 4 of the companies. Amplitude is the only one that has gone public. It is not my intention to be OT with mention of privately held companies but to give depth to conversation about competition in the space.
From my review of the companies that are listed below, Amplitude does not have a moat. They do not have first mover advantage. They don’t have a product or support that looks remarkable versus the competition according to product reviews.
They are executing appropriately in an industry that is catching fire. Companies are throwing money at their digital experience and these companies are the beneficiary.
Amplitude – ampl
VC funding $306M, went public in sept 2021, market cap $8.6B
Founded 2012 in San Fran, Spenser Skates CEO and co-founder, glassdoor rating of 94%, 201-500 employees, 135 job openings listed, offices in NYC and San Fran US, Amsterdam, London, Paris, Singapore.
Customers include Ford, Walmart, ABinbev and Atlassian.
We have seen a couple of the other numbers but some that I might highlight here are ARR of $150 million with 119% NRR with 51% annual growth in new customers
VC funding $359M, privately held
Founded 2013 in Raleigh, NC, Todd Olson CEO and founder, glass door rating of 78%, 501-1000 employees, 111 job openings listed, offices in Raleigh, NYC, and San Fran US, London and Sheffield UK, Yaqum and Herzliya Israel.
Customers include Okta, Citrix, Verizon and Cisco.
This company announced ARR in August 2021 exceeded $100 million for the first time. They also added 195 new customers in the quarter. No breakdown on new customer spend that I could find.
vc funding $77M, privately held
Founded in 2009, Amir Movafaghi CEO, 81% glassdoor rating, 201-500 employees, 41 job openings listed, offices in San Fran, Austin, NYC, Seattle, Barcelona, London, Singapore.
Customers include Docusign, Uber, Yelp, Expedia.
VC funding $108M, privately held
founded 2013 in San Fran, Ken Fine CEO, 97% glassdoor rating, 51-200 employees, 52 job openings listed, offices in San Fran, NYC, London.
Customers include eTrade, Amway, snapfish and splunk.
I hope that this adds depth to the conversation about a new company on the board. Any additional information that can be provided ahead of 09 November market close earnings call would be greatly appreciated.