The “stealth” of startup Palantir favorably affects its reputation with investors

    Palantir Technologies is a privately held American company that develops data analysis software. Its main customers are special services, investment banks, hedge funds.

    Palantir is in third place on the list of the most expensive startups in the world. Her valuation exceeds $ 20 billion.

    However, over the past year, Palantir’s business has declined. This conclusion was made by Buzzfeed, having studied the internal documents of the company. In addition, the correspondents of the publication talked with six employees who work or worked at Palantir.

    At the end of 2015, the company’s business did not bring profit, and its costs exceeded $ 500 million.

    Representatives of Palantir in an official statement indicated that the company earned $ 1.7 billion on "orders." However, in fact, Palantir received only $ 420 million in cash. This amount did not exceed 50% of the previous year’s result.

    Over the past 13 months, such large customers as Coca-Cola , Nasdaq and American Express have stopped working with the company . One of the reasons was the price for the fifth year of the contract, which reached $ 18 million. The average price for using company software is $ 1 million per month.

    In 2016, 100 employees, including some executives, left Palantir. If the outflow of personnel takes place at the same pace, then the share of employees quitting during the year will reach 20%. This is twice the results of previous years. Palantir CEO Alex Karp has announced that he will increase salaries by 20% for employees who have worked for the company for more than 18 months. At the same time, he said that the feedback system on labor productivity and the quality of work of employees does not work and will not be taken into account when paying.

    A company spokeswoman Lisa Gordon, by contrast, claims that Palantir’s business is growing despite the outflow of employees and customers. Human Resources Director Gavin Hood is confident that this is a natural development process for the company. He also added that Palantir has a strong corporate culture, and not every employee will be able to fit into it.

    Throughout its history, Palantir has raised $ 2.42 billion in investments. The company was founded in 2004 by Peter Thiel, a native of Pay Pal, and renowned investor Joe Lonsdale. Both founders are still at the head of the company.

    This is not to say that Palantir is well-known to everyone. This is partly due to the fact that some areas of the company are kept secret. So, some experts believe that Palantir has developed a program for tacit information gathering - PRISM .

    Therefore, there is information that the company really does not have the right to disclose.

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