Tag Archive : Secretive

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BOSTON (AP) — Seventeen years after it was born with the help of CIA seed money, the data-mining outfit Palantir Technologies is finally going public in the biggest Wall Street tech offering since last year’s debut of Slack and Uber.

Never profitable and dogged by ethical objections for assisting in the Trump administration’s deportation crackdown, Palantir forged ahead Wednesday with a direct listing of its stock, gaining 31% in its first trading day.

Rather than selling newly minted shares to raise money; Palantir listed existed shares for public trading. After a delay, trading began after noon and the stock closed at $9.50 after reaching a peak of $11.42.


The low-key stock strategy was in character for a secretive company long reliant on spies, cops and the military as customers — and whose founders are keeping voting control of the company.

The big question for both investors and company management: Can

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Palantir co-founders Peter Thiel and Alex Karp.

Palantir co-founders Peter Thiel and Alex Karp.
Photo: Getty Images

Back in 2003, John Poindexter got a call from Richard Perle, an old friend from their days serving together in the Reagan administration. Perle, one of the architects of the Iraq War, which started that year, wanted to introduce Poindexter to a couple of Silicon Valley entrepreneurs who were starting a software company. The firm, Palantir Technologies, was hoping to pull together data collected by a wide range of spy agencies — everything from human intelligence and cell-phone calls to travel records and financial transactions — to help identify and stop terrorists planning attacks on the United States.

Poindexter, a retired rear admiral who had been forced to resign as Reagan’s national-security adviser over his role in the Iran-Contra scandal, wasn’t exactly the kind of starry-eyed idealist who usually appeals to Silicon Valley visionaries. Returning to the Pentagon after the

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