Hey team,
Silicon Valley's most "private" company may not be so private anymore.
Palantir, the secretive big data firm initially backed by the CIA, is about to go public this Wednesday.
The company's co-founder is Peter Thiel, one of the biggest tech investors on the planet.
It's yet another of a series of software companies, including Snowflake (SNOW), JFrog (FROG), and Sumo Logic (SUMO), to go public in the recent weeks.
But unlike all those other geeky, flip-flops-to-work startups, there's a more controversial aspect to Palantir.
According to Palantir's CEO, Alex Karp, it's tech is used "on occasion" to kill people.
That's because the company has not only won some very lucrative contracts from companies, but from western governments around the world.
So in a lot of ways, Palantir exists more as a defense contractor like Lockheed Martin (LMT).
I mean, you just can't imagine one of Karp's Silicon Valley colleagues— say Tim Cook— saying a thing like that.
But that's not the only unconventional thing about Palantir— the company is pursuing a direct listing instead of an IPO.
It's a process that's a whole lot quicker and involves less scrutiny, since companies just sell existing shares rather than raising new capital.
No matter what way you slice it though, it's going to be an unusual IPO for sure— so let's dig in.
Continue reading…
Ben Sturgill DailyProfitMachine.com |
Post a Comment
Post a Comment