Palantir Technologies is an American public company that focuses on the field of big data analytics. The company has five original founders and was founded almost twenty years ago in 2003. The company’s founders include Peter Thiel, Alex Karp, Stephen Cohen, Nathan Gettings, and Leo Lonsdale.
Palantir Technologies has its headquarters in Denver, Colorado. The company is known to have high-profile clients like the United States Intelligence Community and the United States Department of Defense as their clients.
The company published its fourth quarter results on Monday and the results are much more than expected. The company reported that they were going to have their first profitable year ahead in 2023 and the shares of the company are soaring higher than ever.
In their fourth quarter, Palantir Technologies reported revenue of $509 million. The result was higher than the guidance range which was calculated to be between $503 million to $505 million and also the Wall Street consensus forecast which was $502 million.
Palantir Technologies – A Brief History
Even though the official records state that the company was formed in 2004, according to some reports from the SEC the operations of the company were started by Peter Thiel back in 2003.
Thiel is also the co-founder of PayPal and he had a vision similar to the fraud recognition system of PayPal for Palantir Technologies.
He had the vision of a system that could ‘reduce terrorism while preserving civil liabilities.’ The name of the company was inspired by the fantasy novel of Tolkien, The Lord of the Rings.
The remaining founders of the company were recruited by Thiel in order to develop the idea that he had in mind. The company struggled initially to find investors and many were not willing to invest in the company owing to its high rate of failure in the future.
The initial investment in the company included files like In-Q-Tel, which is the venture capitalist arm of the Central Intelligence Agency, and also from Thiel himself.
In the years 2009 and 2010, the Information Warfare Monitor used the software developed by the company to identify and track China-based cyber security threats named GhostNet and ShadowNet.
The year also saw the success of the software in governmental organizations and the official announcement from the government to initiate the use of the software in multiple government bodies.
The following operations of the company ensured their success and further development, According to a leaked source in 2013, at least twelve groups under the United States Government like the CIA, BBI, Marine Corps, Air Force, Special Operations Command, United States Military Academy and many such top agencies were the clients of Palantir Technologies.
Palantir Technologies – Major Projects
Plantar Technologies is one of the most significant tech companies in the United States now. The company plays a major role in ensuring the security of the nation and also in providing assistance to different government organizations to fulfill their duties effectively.
The company is most known and appreciated for three of its projects. Palantir Gotham, Palantir Apollo, and Palantir Foundry are the names of these companies.
- Palantir Gotham
Palantir Gotham is mainly used by departments like the United States Intelligence Community, Department of Defense, and Recovery Accountability and Transparency Board as a measure to counter-terrorism. In simple words, Plantar Gotham is a protective policing system that is used against foreign intruders that can be a threat or any such to national security.
- Palantir Foundry
The main customers of Palantir Foundry include big corporate companies like Morgan Stanley, Merck KGaA, Airbus, Wejo, Lilium, and a few more. The Palantir Foundry is a very strong data management tool for business users and the software helps to remove the barriers between back-end data management and front-end data analysis and reimagines how people use the data.
- Palantir Apollo
Palantir Apollo is a continuous delivery system that has the capacity to power the user’s SaaS platforms across different environments. It can be used by different people like developers, operators, and security teams and helps them to deploy and roll back applications very quickly and also to ensure the quality, availability, and security of the product.
Palantir Technology – Valuation
Even though the company had been operating since 2004, Palantir Technology has never reported a profit in its entire business timeline. It was through the latest report from the company that they shared the news of having a profit.
According to the report from Forbes, the company was veiled at $9 million back in 2014. The value of the company reportedly increased through the years with around $15 million in 2015 and $20 million in late 2015.
The company went public on September 30, 2020, on the New York Stock Exchange. The company trades under the symbol PLTR. Palantir Technologies: Business Profile.
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Palantir Technologies – Customers
The services offered by Palantir Technologies are used by different firms like banks, hedge funds, financial services firms, and also different government agencies.
Some of the most notable customers of Palantir Technologies include government agencies like the FBI, Marine Corps, Air Force, Special Operations Command, and a few more.
The software was also used by United States Civil entities like the Recovery Accountability and Transparency Board to track down and investigate any potential fraud and other malpractices associated with the American Recovery and Reinvestment Act.
The company also offered its association with the government during the COVID-19 pandemic in the manufacture, tracking, and administering of the vaccine for the pandemic.
The services offered by Palantir Technologies are also used by the United States military intelligence to assist them in the war against Afghanistan. The company has also worked in association with Police departments and also with the United States Immigration and Customs Enforcement.
Palantir Technology – Controversy
While the company has been developing over the years and is on the path of success with associations with different government agencies, Palantir Technology has also been the center of some controversies over the years.
The company had been associated with different controversies involving Wikileaks, the inquiry from the British Parliament. ICE partnership and a few more.
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