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IPO Report: Amplitude stock surges in software company’s public debut as a direct listing; traditional IPOs are ‘antiquated,’ says CEO

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Shares of Amplitude Inc. popped significantly above their reference price Tuesday after the software company made its public debut through a direct listing. Amplitude
AMPL,
+50.74%
shares opened at $50, 43% above the $35 reference price set by the Nasdaq, and then headed higher from there to a recent $54.17. Because the company didn’t hold a traditional initial public offering, it didn’t raise money in the process of going public.

Chief Executive Spenser Skates called traditional IPOs “antiquated” in an interview with MarketWatch, arguing that companies who go that route often end up underpricing their shares. Skates said that Amplitude is “very well …

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