Amplitude completes debut acquisition with ClearBrain buyout

By Nikita Chaurasia  Date: 2020-03-11

Amplitude completes debut acquisition with ClearBrain buyout

Amplitude, a comprehensive product intelligence company, announced that it has acquired the software company ClearBrain to accelerate big product bets. The acquisition will enable customers of the company to estimate about the revenue growth driving features, product bets, and campaigns without extensive A/B testing. It will leverage ClearBrain’s technology and world-class engineering team to enhance its machine learning division.

The new division formed will be led by the CEO of ClearBrain, Bilal Mahmood. Both the companies have not disclosed the terms related to the deal yet.

Spenser Skates, CEO, Amplitude, reportedly stated that customers of the company use product intelligence to iterate rapidly on large bets and require instant clarity about the features & campaigns, which will drive the most user engagement. Several predictive analytics solutions provided to the companies are deceptive and not reliable because they show correlation as causation, however, ClearBrain has developed a self-serve, machine learning platform to offer predictive insights with effective out of the box, he further added.

Bilal Mahmood, Founder and CEO, ClearBrain, apparently stated that the opportunity to present predictive analytics in front of thousands of customers of Amplitude is an amazing proposition for the company. It is not often that firms find such a strong alignment in vision and culture with other firms, as ClearBrain has found with Amplitude, he further added.

For the record, Amplitude has continued to expand its business rapidly with a strong start in 2020. In the past few weeks, the company has increased its customer base by adding more than 2.5 trillion new user actions to its patented behavioral database, Nova, from thousands of products across the world. It has continuously expanded its customer base with market leaders in consumer marketplaces, SaaS, & others and also landed the global Fortune 100 financial service business.

Source credit:
https://amplitude.com/press/amplitude-acquires-clearbrain

About Author

Nikita Chaurasia     aeresearch.net

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More

More News By Nikita Chaurasia

CI NMF, Amp Energy India to jointly invest USD 200 Mn in renewables

CI NMF, Amp Energy India to jointly invest USD 200 Mn in renewables

By Nikita Chaurasia

Copenhagen Infrastructure Partners, one of the biggest renewable energy-centered fund managers worldwide, has signed an agreement with Amp Energy India Pvt Ltd. for joint equity investments of USD 200 million in renewables, using its Copenhagen Infra...

CDC updates guidelines, calls for vaccinated people to mask up

CDC updates guidelines, calls for vaccinated people to mask up

By Nikita Chaurasia

The Centers for Disease Control and Prevention issued new guidelines suggesting that people who are vaccinated against Covid-19 wear masks in public as well as indoor areas where the rate of the disease is high. The CDC also stated that teachers, sta...

iPhone’s hot streak could be hampered by global chip shortage crisis

iPhone’s hot streak could be hampered by global chip shortage crisis

By Nikita Chaurasia

Apple Inc. recently stated that the global chip shortage that has affected the sales of Macs and iPads, will now hit iPhone production and the expected revenue growth is likely to decelerate. This has resulted in lowering Apple’s shares. The c...

EV maker Rivian bags USD 2.5 Bn in a funding round led by Amazon, Ford

EV maker Rivian bags USD 2.5 Bn in a funding round led by Amazon, Ford

By Nikita Chaurasia

American electric vehicle maker Rivian Automotive LLC reportedly secured USD 2.5 billion in a funding round led by Amazon.com Inc, T. Rowe Price, D1 Capital Partners, and Ford Motor Co. In addition, the event also saw participation from Fidelity Man...

ICEA forms committee chaired by HP India MD to boost IT hardware sector

ICEA forms committee chaired by HP India MD to boost IT hardware sector

By Nikita Chaurasia

The India Cellular & Electronics Association (ICEA) recently announced the formation of a committee to promote manufacturing and exports of the IT hardware sector. The panel headed by Ketan Patel, HP India’s Managing Director, will set up a...