Follow Military & Defense Watch Start the conversation
Comment on This Story
Or to contact Money Morning Customer Service, click here.
The Palantir IPO has been one of the most hotly anticipated IPOs this year. But on June 12, co-founder Joe Lonsdale announced there wouldn't be a Palantir IPO in 2019.
At the CB Insights Future of Fintech conference in New York, he said he'd love to see the company go public. But as a co-founder of Palantir, Lonsdale just doesn't see it happening this year.
In fact, he said the 16-year-old data mining company with a roughly $41 billion valuation is still years away from officially going public.
This is because if Palantir Technologies Inc. remains private, Lonsdale says it could potentially raise millions more from private investors. That gives the company the ability to reach profitability before making a public debut.
Plus, Lonsdale said while revenue is growing - even touting revenue of $880 million in 2018 -the company's main focus is on increasing profitability for now.
So, retail investors who were eagerly awaiting a Palantir IPO in 2019 are likely to be disappointed. However, Big Data is a rapidly growing industry regardless of whether Palantir goes public this year or not.
Get Ready for 5G NOW! A single company could be about to corner the entire 5G market - and you could turn every $1,000 you stake into $10,000! Go here now to find out how.
In fact, it's currently worth $49 billion. But between now and 2027, that value is expected to rocket up by 110.2% to $103 billion.
And fortunately for you, you don't need Palantir to take advantage of Big Data's rapid growth thanks to our alternative play on the industry.
Check out our favorite way to profit from Big Data below...
How to Profit from Big Data with This Alternative Play on Palantir
About the Author
Daniel Smoot is a Baltimore-based editor who helps everyday investors with stock recommendations and analysis. He regularly writes about initial public offerings, technology, and more. He earned a Bachelor's degree from Towson University.