12.8 C
New York

Palantir confidentially files to go public

Must read

Cigarette smoking Ups Your Hazard of a Fatal Brain Bleed

By Robert Preidt HealthDay Reporter&#13 THURSDAY, Sept. 17, 2020 (HealthDay News) -- Smokers...

Twins top Cubs 4-0, Kepler hits 100th career home run

Twins top Cubs 4-0, Kepler hits 100th career home run | FOX Sports

Ruth Bader Ginsburg, Belarus, Aleksei Navalny: Your Monday Briefing

(Want to get this briefing by email? Here’s the sign-up.)Good morning.We’re covering the effects of the death of Ruth Bader Ginsburg, a weekend of...

This Year’s Emmy Winners Want You to Vote

As vigils honoring Ruth Bader Ginsburg, the Supreme Court docket justice who died on Friday, continued through the United States on Sunday, television stars...

Palantir Technologies CEO Alex Karp arrives at the “Tech for Good” Summit in Paris, France May 15, 2019.

Charles Platiau | Reuters

Data analytics software company Palantir Technologies said late Monday that it has filed confidentially for a public stock offering.

Founded in 2004, Palantir has been among the most highly-valued venture-backed companies, raising about $2.6 billion, and reaching a $20 billion valuation five years ago. The Palo Alto, California-based company told CNBC in April that it expected to exceed $1 billion in revenue this year. 

Large companies and government agencies use Palantir’s software, typically incorporating extensive amounts of data, and Palantir employs “forward deployed software engineers” who work closely with clients. As recently as last week, Palantir signaled in a filing that it was raising more capital, as part of a round that could near $1 billion. 

Palantir has over 2,500 employees listed on LinkedIn. Thiel, an early backer of Facebook, has encouraged the company to stay private as long as possible, although co-founder Joe Lonsdale has lobbied for an IPO. A year ago Lonsdale predicted that an IPO was “a few years” away, the Wall Street Journal reported.

Last month, Palantir added Alexandra Wolfe Schiff, who was then a Journal reporter, to its board of directors, becoming the first woman director. California requires public companies to have at least one woman on their board.

The notice of a confidential filing does not mean that a public listing is necessarily imminent. Food delivery company Postmates said it had confidentially filed for an IPO in February 2019, but it never went public. On Monday Uber said it had agreed to buy Postmates for $2.65 billion in stock. 

— CNBC’s Ari Levy contributed to this report.

WATCH: CNBC’s full interview with Palantir CEO Alex Karp at Davos

Source link

Some Exciting Offer For You

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

+ 15 = 18

Latest article

Cigarette smoking Ups Your Hazard of a Fatal Brain Bleed

By Robert Preidt HealthDay Reporter&#13 THURSDAY, Sept. 17, 2020 (HealthDay News) -- Smokers...

Twins top Cubs 4-0, Kepler hits 100th career home run

Twins top Cubs 4-0, Kepler hits 100th career home run | FOX Sports

Ruth Bader Ginsburg, Belarus, Aleksei Navalny: Your Monday Briefing

(Want to get this briefing by email? Here’s the sign-up.)Good morning.We’re covering the effects of the death of Ruth Bader Ginsburg, a weekend of...

This Year’s Emmy Winners Want You to Vote

As vigils honoring Ruth Bader Ginsburg, the Supreme Court docket justice who died on Friday, continued through the United States on Sunday, television stars...

‘Good Enough’ Procedures the Entire world

This write-up is part of the On Tech newsletter. You can indicator up below to acquire it weekdays.During a pandemic, it is great to...