Big data startup valued at $9bn

Comment on this story

iol scitech dec 9 palantir


website screenshot

San Francisco - Social networking companies such as Twitter and Snapchat may be the media darlings for tech investors right now, but according to the Wall Street Journal a big data startup called Palantir may be even more valuable.

The 10-year-old company with roots in the US intelligence sector, has developed proprietary algorithms for data analysis that meld human pattern recognition abilities with the number-crunching abilities of supercomputers.

According to the report, Palantir, which counts the National Security Agency, the CIA and the FBI among its clients, recently closed a funding round of $58-million at a valuation of $9-billion.

This makes it more valuable than consumer technology darlings such as Pinterest and Spotify, each valued at around $4-billion. Though the Silicon Valley company got its start with the CIA and was even said to have played a role in tracking down Osama Bin Laden, it has successfully branched out in recent months to offer data services to large financial and pharmaceutical firms, making it more valuable to investors. - Sapa-dpa

Hungry for more scitech news? Sign up for our daily newsletter

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.


Join us on

IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks