City biz-software firms flourishing, as Datadog hits $40B value

It’s good business making software for businesses.

Corporations are spending more than ever on tech solutions—an estimated $4 trillion this year alone—as they adapt to remote work and increasingly complex threats. New York technology firms are lining up for that spending.

A case in point is Datadog. The Midtown firm’s revenue jumped 70% year over year from April through June, reaching $235 million, according to the company’s earnings statement, published Thursday.

The company, which went public in 2019, saw its share price jump 20% Thursday in response to the earnings report. With a roughly $40 billion market cap, Datadog is the most valuable publicly traded technology

→ Continue reading at Crain's New York Business

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