US tech giant Palantir company has already said that it has filed paperwork confidentially for a public stock offering. This public listing remains to Class A common stock. This data analytics company is one of the Silicon Valley’s oldest private startups and was last valuated in $20 billion in 2015. This evaluation would place Palantir Technologies Inc. as the largest and most valued Silicon Valley tech listing since Uber’s initial public offering in 2019.
Palantir Technologies Inc. was co-founded in 2003 by Peter Theil, Joe Lonsdale, Nathan Gettings, Stephen Cohen, and Alex Karp. It has been among the most highly valued venture-backed companies in the last years. The Palo Alto, California-based company expected to exceed $1 billion in revenue during this 2020. This tech company has been working together with the U.S. government by first, to analyze and process their data, and now it helps to perform many projects such as the identification of illegal immigrants and terrorist groups. In addition to the government, other big companies use Palantir’s software that employs “forward-deployed software engineers” to incorporate huge amounts of data. Palantir has obtained a good reputation through managing huge amounts of secure data for both public and private sectors. This reputation has caused the tech giant to attract more than $3 billion in venture capital funding from its important investors like In-Q-Tel, Fidelity, and Tiger Global Management.
As we already mentioned, Palantir has been working to perform a listing, and for the same reason, they added Alexandra Wolfe Schiff on their board to complete a California’s requirement that establishes that public companies must have at least one woman on their boards. When the list complete, it will be part of the tech initial public offerings.
Confidential filing prevents competitors to have access to important information; this move comes because of the volatility in the market caused by the pandemic. In June, companies have been taking benefit while the stock market started booming again.
