“Salaries have gone up dramatically in our space in the last five years,” wrote Lonsdale, who is now a venture capitalist. ![]() In a response to the article, Palantir co-founder Joe Lonsdale wrote that while many staff work at the company for “mission-driven” reasons, “the financial equation matters a lot 12 years into any company.” On April 22, CEO Alex Karp announced a sweeping 20% pay raise for all employees who had worked there for at least 18 months and canceled annual performance reviews, which he suggested weren’t working, BuzzFeed News reported. More than 100 employees, including several top managers, left the company this year through mid-April, BuzzFeed News reported earlier this month. The latest liquidity event is part of a broader effort by Palantir to address unease among its staff. The 12-year old data analysis company based in Palo Alto, California, was valued at $20 billion by investors in the 2015 financing round, making it the third most highly valued American tech startup, behind only Uber and Airbnb. That is what the company planned to do after a similar liquidity event last year, according to an internal email at the time.Ī Palantir spokesperson, Lisa Gordon, did not respond to multiple requests for comment. It could not be determined whether Palantir plans to sell the common shares to outside investors after buying them from employees. Representatives of the funds did not immediately respond to requests for comment. The valuation data was collected by research firm Morningstar. One fund, managed by Valic, a division of AIG, is valuing its preferred shares at just $3.79, a 67% discount to last year’s valuation. As of March 31, at least three funds - managed or co-managed by Morgan Stanley, Fidelity, and Transamerica - valued Palantir preferred shares at $5.92 each, 48% below the price in a financing round last year. The $7.40 price offered for common stock is significantly above the level that several mutual fund investors are currently valuing preferred shares of Palantir - shares that are typically valued higher than common stock. Employees - whose compensation is weighted heavily toward stock options - were invited to sell up to 12.5% of their equity, or $500,000 worth, whichever is lower. The so-called “liquidity event” will be held at a price of $7.40 per share, Palantir said in a memo to staff that was obtained by BuzzFeed News. Delivered today.Palantir Technologies, one of Silicon Valley’s most highly valued startups, plans to purchase up to $225 million of its own common stock that is owned by current and former employees, in a move that could provide some relief to employees growing anxious over the prospect of turning their shares into cash. Accordingly, investors should monitor Palantir’s websites, in addition to following Palantir’s LinkedIn and Twitter accounts, press releases, SEC filings, public conference calls, and webcasts.įoundational software of tomorrow. ![]() Palantir uses its website at, including its Investor Relations website at, as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. After the presentation, a replay of the audio webcast will be available on Palantir’s investor relations website at for at least 15 days. Mountain Time.Īt the time of the presentation, a live audio webcast of Palantir’s presentation will be available at. (NYSE:PLTR) today announced that Shyam Sankar, Chief Operating Officer and Executive Vice President, is scheduled to participate in a fireside chat at the Morgan Stanley Technology, Media & Telecom Conference on Wednesday, March 9, 2022, at 4:45 p.m. DENVER-( BUSINESS WIRE)-Palantir Technologies Inc.
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