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Palantir CEO Alex Karp. Photo: Scott Olson/Getty Images

Palantir, the secretive data analysis software company best known for its contracts with government agencies, is reportedly planning to go public via direct listing in late September, according to Bloomberg.

Why it matters: This would be only the third company since 2018 to do a direct listing, after Spotify and Slack. The company is also in the process of raising $961 million, with $550 million of it already secured.

The bottom line: “The Palo Alto, California-based company had long resisted a public offering to avoid getting valued as a consultancy, and to stay out of the public eye while it reduced its dependence on engineers customizing software for each client and worked toward profitability, people familiar with the matter have said.”—Lizette Chapman, Scott Deveau, Bloomberg.

Go deeper: Palantir CEO told "Axios on HBO" in May that Palantir will likely go public within the year

Go deeper

Sep 30, 2020 - Podcasts

Palantir co-founder on its mission and controversies

Palantir Technologies today went public at an initial valuation of more than $21 billion, giving investors a chance to buy into one of Silicon Valley's most talked-about tech companies.

Axios Re:Cap dives into Palantir's mission and controversies with company co-founder Joe Lonsdale.

Using apps to prevent deadly police encounters

Illustration: Sarah Grillo/Axios

Mobile phone apps are evolving in ways that can stop rather than simply document deadly police encounters with people of color — including notifying family and lawyers about potential violations in real time.

Why it matters: As states and cities face pressure to reform excessive force policies, apps that monitor police are becoming more interactive, gathering evidence against rogue officers as well as posting social media videos to shame the agencies.

Dan Primack, author of Pro Rata
14 hours ago - Technology

TikTok gets more time (again)

Illustration: Aïda Amer/Axios

The White House is again giving TikTok's Chinese parent company more to satisfy national security concerns, rather than initiating legal action, a source familiar with the situation tells Axios.

The state of play: China's ByteDance had until Friday to resolve issues raised by the Committee on Foreign Investment in the U.S. (CFIUS), which is chaired by Treasury secretary Steve Mnuchin. This was the company's third deadline, with CFIUS having provided two earlier extensions.