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Top DAX managers overall earned an average of 49 times what their employees made last year.
(Bloomberg) -- Palantir Technologies Inc., the Silicon Valley data company backed by Peter Thiel, raised 54 billion yen ($500 million) from Japan’s Sompo Japan Nipponkoa Holdings Inc. in what’s set to be one of the last investments before the stock is traded publicly.The cash lessens the need for Palantir to raise capital through an initial public offering. The company has been considering a direct listing of its shares on an exchange as an option, which would allow Palantir to bypass a roadshow and other formalities of an IPO, though it would not bring in new funds, people familiar with the matter have said.The decision on how and when to go public ultimately rests with Palantir’s board, which is led by Thiel. The company is preparing to confidentially file paperwork with U.S. regulators for the stock to begin trading in the fall, Bloomberg reported last week. Those plans could change, though.Founded in 2003, Palantir sells software to government agencies and companies for managing and analyzing their data. The Palo Alto, California-based company has faced criticism for working with U.S. immigration officials and police agencies accused of using the tools to discriminate and surveil. Palantir has also won some accolades for helping the U.S. military find terrorists and aiding companies like Merck KGaA in the search for new drugs.Last year, Palantir and the insurance company Sompo established a Japanese joint venture, each with a 50% stake. Japan’s Fujitsu Ltd. said last week it was investing $50 million in the U.S. company. Palantir told investors earlier this year it expects to break even globally on $1 billion in revenue in 2020.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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