Secretive Data Firm Palantir Confidentially Files for Public Listing
Big data analytics company Palantir takes a quiet route toward going public by confidentially filing IPO paperwork with the SEC. The move avoids early public scrutiny as the company simultaneously closes a massive private funding round.
Secretive data analytics startup Palantir confidentially files paperwork with the SEC to go public, keeping financial details and risk factors hidden from the public eye. This approach allows the Peter Thiel co-founded company to navigate the early stages of the public listing process without the immediate scrutiny that traditional IPO filings attract. Palantir provides no specific timeline for the listing, share counts, or price ranges at this time.
Known for providing big data technology to the U.S. government and intelligence community, Palantir carries a history of controversy regarding privacy and civil liberties. Activists heavily criticize the company because its data mining software aids agencies like ICE in profiling immigrants and executing deportations. More recently, Palantir pitches its analytics tools to health agencies to track the spread of the COVID-19 pandemic.
This confidential IPO filing pairs with a recent Form D showing Palantir is raising $961 million in private capital. Estimates value the highly scrutinized Silicon Valley firm at around $26 billion. Palantir joins a resurgent IPO market that sees companies like Lemonade and Accolade successfully debuting despite earlier economic freezes caused by the global health crisis.