Palantir is planning to go slow and steady with its IPO. This tech giant is one of the biggest startups in present times. It has been 15 years since the time this startup was launched. A huge amount of investors have shown their trust in this company. Palantir has funding of more than $2 billion till now. Investors are eagerly waiting for the IPO of this data mining firm. There are various issues that the company is focusing on solving. One of the major reasons why the company is waiting on its IPO is that there is only one board member who functions independently.
An amazing increase in annual revenue
Palantir is growing by leaps and bounds. The revenue growth in January was more than 40%. Alex Karp the CEO of the company is highly positive about the future growth of the company. The reason behind the growth of the company is its amazing bench strength. Building a separate sales team has been a good decision for the company. The biggest reason for the increase in annual revenue is the sales team.
The wait to be over by 2020
Every investor is looking forward to 2020 to take part in the IPO launch. It can be further a mega event that will take place in Silicon Valley. The stock of Palantir is seen to be tumbling in the secondary market. The company has also taken the help of the employee stock option scheme to improve its valuations.
Focus on the functioning of independent board members
In order to list on Nasdaq as well as NYSE, it is important to have more number of independent board members. There should be a separate audit committee as well as improved focus on corporate governance. There are four board members in Palantir. Only one among the four is an independent member.