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The Palantir IPO is expected to take place after the SEC completes its review process which can take up to 16 weeks.
Data analytics company Palantir Technologies has confidently filed for listing with the Securities and Exchange Commission (SEC) relating to its Class A common stock following a report that the company is in the league to raise over $1 billion about a week ago. Palantir is riding on the tide of the growing economic indices to push forward its IPO.
The Palantir IPO according to the announcement is expected to take place after the SEC completes its review process, subject to market and other conditions. This review process can take anywhere from 12 up to 16 weeks with the initial comment on the S-1 filing coming in about 25 days.
About Palantir Technologies before Its IPO
Palantir Technologies is a private American software company that specializes in big data analytics. Headquartered in Palo Alto, California, it was founded by Peter Thiel, Nathan Gettings, Joe Lonsdale, Stephen Cohen, and Alex Karp. The company’s name is derived from The Lord of the Rings where the magical palantír were “seeing-stones” which allowed their users to communicate with each other or to see faraway parts of the world.
Palantir Technologies was established as a tri-modeled project including Palantir Gotham, Palantir Metropolis, and Palantir Foundry. Palantir Gotham is relied on by analysts in the United States Intelligence Community (USIC) and the United States Department of Defence as a tool to combat terrorism. Palantir’s project Gotham attracted government investment worth $823 million. Palantir Metropolis is used by hedge funds, banks, and financial services firms. Palantir Foundry is used by corporate clients such as Morgan Stanley, Merck, Airbus, and Fiat Chrysler Automobiles NV.
The company was founded in 2004 and has conducted a series of funds from private investors that finally informs the company’s confident application to go public.
Contrary to the position of Alex Karp back in 2013, where he claimed that taking Palantir public will make “running a company like ours very difficult,” it is expected that the company has revised internal processes that will accommodate the demands of a publicly-traded company. With a revenue of $739 million as of 2019 and a record 2500 employees, Palantir stands as a viable company to withstand the sentiment-driven stock market.
If you want to read more about other companies that have decided to offer their stock via an IPO, please follow the link.