Palantir has filed for a stock market listing. Palantir Technologies, founded in 2004, filed its draft registration paperwork with the SEC announced late Monday that it has confidentially filed paperwork to go public.
Palantir Technologies is a private American software company that specializes in big data analytics one of Silicon Valley’s oldest private startups. Headquartered in Palo Alto, California, it was founded by Peter Thiel, Nathan Gettings, Joe Lonsdale, Stephen Cohen, and Alex Karp.
The news release did not specify whether Palantir would go the IPO route or go public through a direct listing, and neither the number of shares nor potential share price was announced. “The public listing is expected to take place after the SEC completes its review process, subject to market and other conditions,” Palantir said in the release.
Palantir has been among the most highly-valued venture-backed companies, raising about $2.6 billion, and reaching a $20 billion valuation five years ago.
The company said last week it was in the midst of raising nearly $1 billion in new capital, separate from an IPO. Billionaire venture capitalist Peter Thiel is among the company’s co-founders.
Confidential IPO filings allow companies to bypass the traditional IPO filing mechanisms that give insights into their inner workings such as financial figures and potential risks.