Palantir Founded by Peter Thiel Plans IPO. Should you Invest?

 

Palantir Technologies is a software company founded by Peter Thiel in 2003 CREDIT: KIYOSHI OTA/ BLOOMBERG

Palantir is a company that  that provides data-gathering and analysis for government agencies winning $1.5 billion in federal government contracts with the Space Force and the Navy, including national security and intelligence.

Palantir Technologies offers a suite of software applications for integrating, visualizing, and analyzing information. Palantir software allows analysts within and between government organizations to collaborate and to analyze large quantities of data.

Palantir builds the world’s leading software for data-driven decisions and operations. Many market segments use the software from auto companies to insurance companies seeking risk management.

The VA Technology Acquisition Center awarded a nearly $5 million contract to the Silicon Valley company for its Gotham data-sharing software, already used by the HHS Protect system informing White House coronavirus efforts. Source: FedScoop

In recent reports the company has been valued at $20 billion dollars. PitchBook states, Palantir has raised around $3 billion in cumulative funding. The last fundraising round valued the company at $20 billion. Yet the controversy come from a lack of profits. No IPO date has been set

As of late, COVID-19 Hospital Data Systems that   bypass the CDC  has been  riddled with inaccurate information and delays.

Hospitals would now report their data exclusively to HHS Protect, that  Palantir developed but run by the  private company , TeleTracking. Palantir  founded by Peter Thiel is one of the most valuable private companies in Silicon Valley because Palantir is about to go public

Palantir said it has 125 customers using its software across more than 150 countries, with the average revenue per customer of US$5.6 million. Palantir has relocated its headquarters from Palo Alto, to Denver, although it is unclear how many of its roughly 2,400 employees will work there and when. The company has instructed employees to work from home through the end of 2020.

Palantir gets its name from J.R.R. Tollkien’s Lord of the Rings saga. A palantír is a magical artifact in Middle-earth that is used for communication and to see events in the past and future.

 

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