Palantir Technologies Inc. was known for years as being the most secretive unicorn startup in Silicon Valley, but going public has turned the company from a shrinking violet to an exploding fountain of information.After all of that, The Wall Street Journal reported Sept. 24 that Palantir had informed investors that shares were expected to begin trading around $10 apiece, a price that would give the company a valuation of roughly $22 billion. Shares are expected to begin trading Sept.
“Our top three customers together accounted for 33% and 28% of our revenue for the years ended December 31, 2018 and 2019, respectively, and 31% and 29% of our revenue for the six months ended June 30, 2019 and 2020, respectively,” the company disclosed. “Our top three customers by revenue, for the year ended December 31, 2019, have been with us for an average of 8 years as of December 31, 2019.”
In their presentation to investors, Palantir executives stressed the revenue growth that it has experienced since moving into the commercial sector with Foundry. “Despite having a 15+ years operating history, we found Palantir’s S-1 filing fairly light on customer trends, SaaS metrics. Also, the company has disclosed only six trailing quarters worth of financials,” Kulkarni wrote.
There is no guarantee that will be the starting price for Palantir, however. Palantir listed a dozen banks that are acting as financial advisers on the deal, with Morgan Stanley as the main consultant with the designated market maker, which will determine the opening price of the shares.
Im concerned about its IPO.
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »
Source: THR - 🏆 411. / 53 Read more »