July 28, 2015 0 Comments
Investors have always been eager to invest in Palantir Technologies, the secretive data analytics company known for its intelligence work for the NSA, CIA, FBI and the U.S. Army. After landing a $500 million investment last year, the company recently raised $450 million (out of a $500 million funding round), at a valuation of $20 billion. Once completed, Palantir will be ranked as the fourth most valuable venture-backed company in the world behind Xiaomi, Uber and Airbnb. So why are investors bullish on mysterious Palantir? From trying to save the world, Palantir is now trying to make more money by diversifying its business. Initially known for locating terrorists, tracking disease outbreaks, and preventing fraud, Palantir has been busy lately engaging with private companies and has closed deals with financial institutions, healthcare companies, and media corporations, among others. According to reports, about 70% of its business now come from the private sector. Although talks of an impending IPO are rife, Palantir CEO Alexander Karp has squashed the IPO rumours by announcing that it has no plans to go public.
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