Palantir files for IPO; CEO Alex Karp slams Silicon Valley engineering elite


In the first half of this year, amid the economic crisis, geopolitical instability, and global pandemic, its revenue was $481.2 million, a 49% increase from the same period in 2019.

In 2019, Palantir recorded a net loss of $579.6 million. Excluding stock-based compensation, its net loss was $337.7 million.

In the first half of 2020, its net loss dropped to $164.7 million, lower than its net loss of $280.5 million in the same period last year. Excluding stock-based compensation, it had a net income of $17.2 million compared with a net loss of $167.6 million in the first half of 2019.

Palantir estimated that the total addressable market (TAM) for its software platforms across the commercial and government sectors worldwide is approximately $119 billion.

Karp says Silicon Valley engineering elite has no idea of what justice requires

In its filing, Palantir included Karp’s letter in which he criticized the culture and practices of technology companies particularly those in Silicon Valley.

Palantir CEO Alex Karp
Palantir CEO Alex Karp -screenshot from CNBC video