Palantir files for an IPO, but lost 580 million last year

 

What is Palantir? and What do they do?

    Well have you ever watched the movie Eagle Eye when Jerry Shaw is being threatened by someone whose using everyday technology to control their action. That’s Palantir, a data analytics company that uses its toolset in human analysis. The company can build comprehensive activity to detect any suspicious irregularities. It’s also capable of providing almost full immunity to financial fraud. The company's anti-fraud system uses algorithms to detect any patterns that are designated by analysts. Palantir targets three industries: government, the finance sector, and the legal search. Palantir's co-founder Alex Karp who was also a co-founder in PayPal brought his security strategies he learned from PayPal to Palantir making this company the first choice for security. 

Most of Palantir's customers are Government entities like CIA, DHS, NSA, FBI, CDC, the Marine Corps, and the Air Force and many more. The company is very picky with its customers and won’t do business with just anyone. “We generally do not enter into business with customers or governments whose positions or actions we consider inconsistent with our mission to support Western liberal democracy and its strategies allies,” the company said on Tuesday's filing. This means that Palantir won’t work with countries like China and their communist party. Palantir's revenue from the government segment was about 54% $257 Million in the first half of 2020, and 27% from commercial revenue. According to the filing, Palantir has about 125 customers with 1.2 billion in remaining deals valued from the U.S government. The company is aiming to go public by Sept 24 so that it can be traded in the New York Stock Exchange with the symbol PLTR.


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