Palantir Technologies Inc., the secretive data mining company, is considering an initial public offering that could value it at as much as $41 billion, the Wall Street Journal reported, citing people familiar with the matter.
The firm co-founded by investor Peter Thiel is discussing plans with Credit Suisse Group AG and Morgan Stanley to go public as soon as the second half of next year, the WSJ reported.
Palantir, best known for helping the U.S. government track down al Qaeda leader Osama bin Laden, was valued at about $20 billion in 2015.
After Palantir shared some of its financials, Morgan Stanley estimated a public offering in 2020 in the range of $36 billion to $41 billion, the paper said. That range would be lower if the IPO proceeded earlier, the Journal reported, citing the people familiar with the matter.
Already one of the most richly valued startups in Silicon Valley, Palantir was last valued at about $20 billion in a 2015 fundraising round.
The company expects to turn a profit this year. With an IPO next year, Palantir would potentially join other star-studded tech firms coming to market: Uber Technologies Inc. and Lyft Inc. are also solidifying plans for 2019 debuts. Morgan Stanley and Goldman Sachs Group Inc. have told Uber it could be valued at about $120 billion.
Morgan Stanley has earned about $60 million in fees arranging private funding for 14-year-old Palantir, Bloomberg reported last month. That haul might double if Morgan Stanley handles its IPO.
© Copyright 2024 Bloomberg News. All rights reserved.