The American big-data company Palantir Technologies is going to the New York Stock Exchange. The company, which inter alia cooperates with intelligence services in the fight against terrorism, is preparing for one of the biggest fairs of the year.
Palantir applied to the US financial market regulator, the SEC, in July for a listing. On Wednesday it became known that it was a direct quotation, where no new shares are issued but existing investors in Palantir sell their shares. A specific date for the first trading in Palantir is not yet known.
Palantir was founded and processed in 2003 with the help of complex software large amounts of data to track down, for example, terrorists and criminals. The software is used by security and police forces worldwide. The company also provides software for the financial sector to detect suspicious transactions.
One of the founders of Palantir is tech investor Peter Thiel, a well-known name in Silicon Valley. The German-American billionaire is a co-founder of PayPal payment service and is one of the first investors in Facebook. The American intelligence agency also belongs to early investors in Palantir. Palantir, named after the dark crystal balls from the Lord of the Rings books, was valued at $ 20 billion at an investment round in 2015. It’s unclear how much the company is worth now.
The company does suffer losses. Last year a negative result of $ 580 million was put into the books, about the same as a year earlier. In 2019, the proceeds came to 742 million dollars, from 595 million dollars in 2018. In the first six months of 2020, sales reached $ 481 million. According to Reuters news agency, based on Insiders, the company’s profits this year go to the 1 billion dollars.
About the author: Wesley C Waldo
Wesley C Waldo, a promising writer who is preparing to publish his first novel in 2023. Travels a lot and collects the clues for a new book. He writes on social topics, sometimes describes an event or two.