Taking too long? Close loading screen.
Connect with us

Tech

Palantir Is Looking To Go Public As Early As September

Published

on

Palantir—a data crunching firm best known for its ties to Peter Thiel, the Pentagon, and police forces across the country—is apparently looking to finally go public, as people “familiar with the matter” told Bloomberg yesterday. Earlier today, the plans were confirmed by finance execs at Akita Michinoku Capital, a group of Tokyo-based investing firm that has previously boasted ties with companies like Tencent and Softbank.

Advertisement

(Disclosure: Peter Thiel secretly funded a lawsuit that bankrupted Gizmodo’s former parent company, Gawker Media.)

Oliver Wright, Akita’s director of corporate equities, told Marketwatch that Palantir is aiming for a public filing by “late September,” though he left the door open for a potential shimmy on that date. He added that they’d be going with a direct listing—the kind of less-fussy public offering that Spotify and Slack chose when they each went on the market in 2018 and 2019, respectively.

Advertisement

Direct listings come packaged with a few perks: they give Palantir’s current investors, who have poured $2.6 billion into funding the company thus far, a chance to sell their shares immediately, rather than waiting around for the dreaded stock lock-up period to expire. It also means that Palantir can sidestep working with the massive fees that typically come packaged with underwriters—consultants who would help sell Palantir’s securities to their own networks—along with any other financial middlemen that would want a cut of Palantir’s cash.

A listing of any kind will come with SEC disclosures though, which will force Palantir to pull back the curtain on its financials—something that it’s historically tried to sidestep since its founding in 2004. The company’s secretive contracts with the current administration—and its long-running and equally secretive ties to particular police surveillance projects—mean that the company’s been grappling with an image problem in more ways than one. Earlier this year, Palantir CEO Alex Karp openly admitted that his product has been used “to kill people.”

But even with backing from agencies including the CIA and FBI, the company’s struggled to break even. And because it’s made so much of its money off the backs of the federal sector, its stock prices have fluctuated wildly over the past few years. This year, however, the company moved onto slightly more solid ground: its corporate headcount has surged, and it’s scored some high-profile partnerships in the world of Oil and Big Pharma—industries that might be icky for all sorts of reasons, but make Palantir a much more palatable sell to a potential investor then, say, surveilling immigrants crossing the border.

As the Akita team explained, Palantir is looking to raise a good $961 million dollars before it prepares to go public—and it’s already over halfway there. Back in June, Palantir got juiced with $550 million dollars worth of investments from two separate Japanese financiers: $500 million from Sompo Japan Nipponkoa Holdings, and the remainder from the Tokyo-based IT giant Fujitsu.

Advertisement

Earlier this year, Thiel told investors that he’s expecting his company to reach a solid $1 billion dollars in revenue by the end of 2020. And when the company finally goes public, we might be able to see how much of that comes from the cops.

Source : Gizmodo Read More

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Tech

Charge Your Phone Wirelessly With 50% off a Multifunctional LED Lamp

Published

on

Best Tech DealsBest Tech DealsThe best tech deals from around the web, updated daily.

White Wireless Charge Lamp | $18 | Amazon | Clip coupon + code ABC88699
Black Wireless Charger Lamp | $20 | Amazon | Promo code ABC88699

When you’re ready to turn in for the night, you don’t want to forget to charge your phone— especially if your mobile device doubles as your alarm clock.

With this wireless charger lamp, you can make this crucial step of your nightly routine even easier by just setting your phone on the wireless charging pad and… well, that’s all there is to it!

Advertisement

Other functions include multiple lighting modes as well as a sleep timer option for auto shut-off of the light after 30 or 60 minutes.

This lamp can be yours in white for $18 if you clip the coupon on Amazon (it’s below the original $40 price) and add promo code ABC88699 at checkout.

You can snag the black version for $20 using the same code—no coupon though, sorry.

Don’t sleep on this deal! Who knows how long stock or the coupon code will last?

Advertisement


Source

Continue Reading

Tech

Keep That Hotdish Hot With 65% Off a Luncia Casserole Carrier, Only $11 With Promo Code

Published

on

Best Home DealsBest Home DealsThe best home, kitchen, smart home, and automotive deals from around the web, updated daily.

Luncia Double-Decker Dish Carrier | $11 | Amazon | Promo code SDDU9S7F

It has been a long time since the days we could safely have a potluck or other gatherings, but we have a fantastic deal perfect for once those times return. These double-decker Luncia dish carriers can be had for 65% off when you add promo code SDDU9S7F at checkout and clip the coupon on the site (it’s just below the price). These holders fit 9″x 13″ sized baking dishes.

Advertisement

That means you can insulate and keep two dishes of food warm for only $11 instead of $30. What’s more, your Luncia carrier will arrive by Christmas if you order today as a Prime member.

Just add promo code SDDU9S7F and clip the 5% off coupon to bring the price down to $11 for the blue or the grey option.

Advertisement

Grab this offer while it’s still around!


Source

Continue Reading

Tech

Conquer Your Pup’s Dander and Fur With $700 Off a Cobalt or Charcoal Bobsweep PetHair Plus Robot Vacuum

Published

on

Best Home DealsBest Home DealsThe best home, kitchen, smart home, and automotive deals from around the web, updated daily.

Bobsweep PetHair Plus Robot Vacuum & Mop (Cobalt) | $200 | Best Buy

Bobsweep PetHair Plus Robot Vacuum & Mop (Charcoal) | $200 | Best Buy

Allergies can be bad enough as the seasons change. Don’t let pet hair and dander add to that by vacuuming it up early and often. That chore is easier said than done— unless you have a robot vacuum to do the work for you. This lovely bright cobalt Bobsweep PetHair Plus robot vacuum and mop, only $200 today at Best Buy seems like an ideal option. That’s a whopping $700 off, by the way.

Advertisement

You can get the same deal for the charcoal version of the robot vac, too. This model is not only specially made for picking up pet hair, it self docks and charges when it’s finished with the work.

It also comes with a mop attachment, so it can take care of those kitchen floors for you as well. Grab it while it’s still available for this fantastic price!

Advertisement


Source

Continue Reading

Trending