Palantir Technologies Inc. - a private big-data analytics software company - is considering going public, according to a report in The Wall Street Journal on Thursday, Oct. 18.
The 14-year-old California company could see its valuation hit $41 billion, the Journal reported, as the company was in discussions with investment banks Credit Suisse (CS) - Get Credit Suisse Group AG Sponsored ADR Report and Morgan Stanley (MS) - Get Morgan Stanley (MS) Report for a possible initial public offering later next year, according to the report.
Palantir has so far raised $2 billion in venture capital and private equity, according to Crunchbase.com.
The Journal reported that the company plans to bring in $750 million in revenue over 2018, about $150 million more than in 2017.
Co-founded by famed venture capitalist Peter Theil, Palantir today has around 2,000 workers and has worked with global intelligence agencies as well as various industries, most recently inking deals with major airlines and signing a $7 million contract with the National Institutes of Health.
The company is also credited with aiding law enforcement and hunting down terrorists.