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Illustration: Eniola Odetunde/Axios

Palantir, the big data analytics company co-founded by Peter Thiel, is set to go public today via a direct listing. The NYSE has set a $7.25 per share reference price, although the actual opening price might be much different.

Why it matters: This is one of two direct listings today, alongside Asana, which effectively doubles the number of VC-backed tech companies that have gone public this way — following last year's direct listings by Slack and Spotify.

  • Details: At $7.25 per share, the company would have a fully diluted market value just north of $15 billion and would be priced lower than where Palantir sold primary shares to private market investors in 2016.
  • Bonus: We'll have Palantir co-founder Joe Lonsdale on this afternoon's episode of "Axios Re:Cap."
  • The bottom line: Palantir has multiple marks against it, including unprofitability (after 17 years) and what CNBC's Jim Cramer referred to as a "borderline obnoxious" governance structure. But it's also one of the few tech unicorns that doesn't seem to have many startups on its flank — due to both its complexity and its eagerness to service certain clients that are anathema to much of Silicon Valley.

Go deeper

Exclusive: Slack goes solo for future-of-work VC fund

Illustration: Aïda Amer/Axios

Slack is earmarking $50 million from its balance sheet to launch a new venture capital fund aimed at broadening Slack-backed investments beyond its own platform.

Why it matters: This is Slack's first solo turn at the VC game after a $25 million fund in collaboration with several of its own investors. With the pandemic confining many workers away from in-person interactions, countless companies are having to navigate a new way to operate—and new workplace apps are in the spotlight like never before.

Biden will reverse Trump's attempt to lift COVID related travel restrictions

Photo: Tasos Katopodis via Getty

The incoming Biden administration will reverse President Trump's last-minute order to lift COVID-19 related travel restrictions, Jen Psaki, the incoming White House press secretary, tweeted.

Why it matters: President Trump ordered entry bans lifted for travelers from the U.K., Ireland, Brazil and much of Europe to go into effect Jan. 26, but the Biden administration will "strengthen public health measures around international travel in order to further mitigate the spread of COVID-19," Jen Psaki said. Biden will be inaugurated on Wednesday, Jan. 20 and Trump will no longer be president by the time the order is set to go into effect.

Dominion sends cease and desist letter to My Pillow CEO Mike Lindell

Photo: Stephen Maturen/Getty Images

Dominion Voting Systems on Monday sent a cease and desist letter to My Pillow CEO Mike Lindell over his spread of misinformation related to the 2020 election.

Why it matters: Trump and several of his allies have pushed false conspiracy theories about the company, leading Dominion to take legal action. It's suing pro-Trump lawyer Sidney Powell for defamation and $1.3 billion in damages, and a Dominion employee has sued Trump himself, OANN and Newsmax.