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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.

40 mins ago - World

COVID cases surge in South Africa in sign Omicron wave is coming

Recreated from Our World in Data; Chart: Axios Visuals

South Africa alerted the world to the Omicron variant. Now data out of South Africa may serve as a warning of what we're facing.

Driving the news: South Africa recorded 11,535 new cases Thursday with 22.4% of tests coming back positive — up from an average of about 300 new cases, with a 2% test positivity rate 10 days earlier. The country's top public health officials expect that exponential rise to continue as Omicron rapidly becomes the dominant variant.

BuzzFeed to go public, after shareholders approve SPAC deal

Photo by Charley Gallay/Getty Images for BuzzFeed

BuzzFeed is set to become publicly traded on Monday, after shareholders of a SPAC called 890 Fifth Avenue Partners voted to approve a previously-announced merger.

Yes, but: The vast majority of the money the SPAC raised in January was yanked, a signal that investors aren't very optimistic about BuzzFeed's future prospects.