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Palantir Files for an I.P.O.

  • July 07, 2020

“The minute companies go public, they are less competitive,” Mr. Karp said in 2014.

More recently, Palantir has taken steps to prepare for a listing. California requires companies to have one woman on their boards in order to go public, and in June, Palantir added its first, Alexandra Wolfe Schiff, a former Wall Street Journal reporter. Spencer Rascoff, a tech executive, and Alexander Moore, an early Palantir employee, joined the board as well.

If completed, the listing will be part of a wave of tech initial public offerings. New offerings had dried up in recent months because of volatility caused by the coronavirus pandemic. But in June, with the stock market booming again and some companies in a position to benefit from changes in consumer behavior, the I.P.O.s came back in full force.

Shares of recent listings have soared. Last week, shares of Lemonade, an insurance start-up, more than doubled on their first day of trading. Investors also embraced the I.P.O.s of the car sales start-up Vroom and the sales software company ZoomInfo.

Airbnb, the $31 billion home rental platform, whose business has been pummeled by the lack of travel during the pandemic, has also not ruled out going public this year.

Article source: https://www.nytimes.com/2020/07/06/technology/palantir-technologies-ipo.html

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