Amplitude

How it happened

Amplitude makes digital-analytics software that tracks how users behave inside apps and websites, and it went public via a September 2021 direct listing that quickly popped to a roughly $7.1B valuation, peaking near $85 a share. As software multiples compressed and growth decelerated, the stock slid for years; by 2026 its market value had fallen to around $0.9B — down roughly 85% and back below the $1B line it had cleared privately. Glassdoor reviews from the downturn describe culture cooling with the share price: two rounds of layoffs in 2022 and 2023 that employees said leadership had played down beforehand, and a revolving door of senior executives that left teams unsure of the strategy.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.