Sources told Bloomberg the data-mining firm intends to conduct a direct listing instead of an initial public offering. (Bloomberg)
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Sources told Bloomberg the data-mining firm intends to conduct a direct listing instead of an initial public offering. (Bloomberg)
Talking point: Going direct means early investors in the 17-year-old company will be able to sell their shares right away, instead of waiting through a lockup period. The poor early performance of long-private, highly valued firms like Lyft led to concern from backers of other unicorns like Uber and Pinterest ahead of their own market debuts; major U.S. VC firms are increasingly favouring direct listings for their portfolio companies. Palantir may not need the additional capital generated by selling new shares in an IPO, since it’s currently in the middle of a US$961-million funding round.
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