Palantir’s IPO could be delayed until 2023 as the embattled, Peter Thiel-founded data firm looks …

Palantir has courted Singapore’s Temasek Holdings, SoftBank Group, and other non-US investors to participate in the potential round, according to …

  • The controversial data-analytics company Palantir may be pumping the breaks on going public.
  • On Thursday, Bloomberg reported that the Palo Alto, California based tech firm was in talks with private investors to raise “significant funding.”
  • Previously, Palantir was reportedly targeting an IPO in 2020.
  • Bloomberg said that Palantir co-founder and Chairman Peter Thiel has told employees that the company would not be going public within the next two to three years.
  • That could set a potential Palantir IPO date back to 2022 or 2023.
  • Visit Business Insider’s homepage for more stories.

The controversial data-analytics company Palantir may be pumping the breaks on going public.

On Thursday, Bloomberg reported that the Palo Alto, Calif. based tech firm — last valued at $20 billion — was in talks with private investors to raise “significant funding.” Previously, Palantir was reportedly targeting an IPO in 2020.

Palantir has courted Singapore’s Temasek Holdings, SoftBank Group, and other non-US investors to participate in the potential round, according to people familiar with the matter who spoke to Bloomberg.

Palantir co-founder and Chairman Peter Thiel told employees recently that the company would not be going public within the next two to three years, Bloomberg reported. That could set a potential Palantir IPO date back to 2022 or 2023.

Palantir did not immediately respond to Business Insider’s request for comment.

Palantir, which has never been profitable, had reportedly been making efforts to gear up an upcoming public offering, which included hiring its first-ever sales team and eliminating lavish employee perks, like 13-course tasting-menu lunches, that could raise eyebrows among public market investors. Employees were also reportedly no longer allowed to expense last-minute international airfare and at least one person was fired for expensing off-the-wall purchases like lingerie.

Read more: This $20 billion startup is reportedly cutting lavish perks as it tries to kill its employees’ ‘entitlement syndrome’ ahead of a possible IPO

Because of Palantir’s work with the US military and government agencies, the data-mining firm has long been subject to scrutiny by outside critics. Most recently, Business Insider learned that Palantir employees themselves are becoming increasingly split over the company’s ties to government work — specifically its business dealings with the US Immigration and Customs Enforcement (ICE), the federal agency involved in detaining and deporting undocumented immigrants.

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Info-graphic view of Credit Scores, Credit Reports & Credit Check Services Market Viewpoint …

Experian, Equifax, Trans Union, Identity Guard, IdentityForce, PrivacyGuard, Credit Sesame, MyFICO, Credit Karma. Global Credit Scores, Credit …
Credit Scores, Credit Reports & Credit Check Services

A Credit Scores, Credit Reports & Credit Check Services Market Research Report :-

This research report classifies the global Credit Scores, Credit Reports & Credit Check Services market in terms of top players/brands, region, type, and end-user. This report also studies the global Credit Scores, Credit Reports & Credit Check Services market structure, growth rate, growth drivers, future trends, market drivers, challenges, barriers, opportunities, sales channels, distributors and competition.

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Topmost Leading Manufacturer Covered in this report:

Experian, Equifax, Trans Union, Identity Guard, IdentityForce, PrivacyGuard, Credit Sesame, MyFICO, Credit Karma.

Global Credit Scores, Credit Reports & Credit Check Services Market: Product Segment Analysis:

Credit Scores, Credit Reports, Credit Check.

Global Credit Scores, Credit Reports & Credit Check Services Market: Application Segment Analysis

Private, Enterprise.

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United States, EU, Japan, China, India, Southeast Asia.

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Credit Sesame, a platform for managing loans and credit scores, picks up $43M en route to IPO

… too, including Credit Karma, NerdWallet, Experian, ClearScore, Equifax and many more. Nazari’s view is that while Credit Sesame maybe targeting …

Household debt in the U.S. continues to rise and as of this year now stands at nearly $14 billion. Now, one of the startups that’s building tools to help consumers better cope with that is announcing a round of funding and plans for an IPO — signs of the demand for its services, and its success to date.

Credit Sesame — which lets consumers check their credit scores and evaluate options to rebalance existing debts and loans to improve that score and thus their overall “financial health,” in the words of CEO and founder Adrian Nazari — has raised $43 million. With the company already profitable and growing revenues 90% each year for the last five, Nazari said that this round is likely to be the last round the company raises before it goes public.

Credit Sesame is not disclosing its valuation, in part because this round is likely to have some more money added to it. But Nazari noted that it’s on track to be valued at over $1 billion when it does close in the coming months. It has now raised $110 million in total.

The round is a mixture of equity and debt, and includes both strategic and financial investors. Led by growth-stage investors ATW Partners, it also includes participation from previous investors. Past backers of Credit Sesame include Menlo Ventures, Inventus Capital, Globespan Capital, IA Capital Groups, Symantec, Capital One Ventures and Stanford University. There also will likely be new investors coming to the company when the round does expand.

The reason the startup is raising both equity and debt is worth a note: Nazari said Credit Sesame is profitable and has been “for some time,” so when it raises money now, it would prefer to do so with less dilution. The funding will be going toward continuing to work on Credit Sesame’s artificial intelligence algorithms, and to continue expanding this business, but not likely acquisitions: there are a lot of companies in the fintech arena that are working on products adjacent to what Credit Sesame does, but Nazari said that it would likely only start to work on some M&A and consolidation plays after it IPOs, using the proceeds from that to fuel that.

In addition to a number of companies building tools and products to help people manage their money better, there are direct competitors to Credit Sesame, too, including Credit Karma, NerdWallet, Experian, ClearScore, Equifax and many more. Nazari’s view is that while Credit Sesame may be targeting a similar initial function, its approach and how it helps you manage your credit score is what differentiates it.

The company has coined the term “Personal Credit Management” (as opposed to personal financial management), and has built an algorithm it calls RoboCredit, which is based on a basic score provided by TransUnion (one of the big agencies that calculates scores, alongside Equifax and Experian), but also includes other factors that it calculates to show consumers which actions they can take to improve their scores. Checking initial scores is free on Credit Sesame, as are evaluating options for how to rebalance loans and other debts to help improve the score. But users that take products referred through the engine — such as refinancing a mortgage or taking a new credit and/or transferring your existing balance — or other premium services (such as an advanced level of identity theft protection), pay fees to do so.

The credit rating industry has seen some big setbacks in the last several years — first the big breach at Equifax, and then the Consumer Financial Protection Bureau fining both Equifax and TransUnion for misrepresenting what kind of data it was providing to consumers, and for not being transparent enough in its charges. But Nazari said that in fact, this has had a positive impact on the company.

“The impact from Equifax has been net positive,” he explained. “Incidents like these create awareness and the need for consumers to watch their credit and be on top of that,” he noted. “Identity theft from breaches could happen any time.”

Indeed, online security has become a bit of an unknown variable for many of us: We can try to prepare as much as possible, but we never know what news of a new breach might come around the corner, or when one fragment of our disclosed information might be the missing piece to someone using it to steal something from us. On the other hand, the startup is giving more transparency at least to how some of the other aspects of our online financial identity work, and how it can be used by others to evaluate us as consumers.

“Credit Sesame is revolutionizing how consumers manage their credit. What once was a mystery and black box is now distilled by Credit Sesame’s PCM platform into easy to digest actionable insights that can effortlessly and meaningfully change a consumer’s credit and financial health,” said Kerry Propper, co-founder and managing partner at ATW Partners, in a statement. “We’re thrilled to open the gates to a new age of Personal Credit Management with the Credit Sesame team leading the space.”

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Credit Scores, Credit Reports & Credit Check Services Market Outlook, Demand, Key Player and …

‘The primary purpose of the report is to highlight the many important global Credit Scores, Credit Reports & Credit Check Services market dynamics …

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Prominent Key Players Credit Scores, Credit Reports & Credit Check Services Insight Report:

Experian, Equifax, Trans Union, Identity Guard, IdentityForce, PrivacyGuard, Credit Sesame, MyFICO, Credit Karma

Segment by Type:

  • Credit Scores
  • Credit Reports
  • Credit Check

Segments by Application:

  • Private
  • Enterprise

Leading Geographical Regions in Credit Scores, Credit Reports & Credit Check Services Market:

North America, Asia-Pacific, UK, Europe, Central & South America, Middle East & Africa

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Bug reveals your credit info to strangers on the web

One of the most well-known names in the credit monitoring industry is Credit Karma. It’s a free service that millions of Americans use to check their …

A well-known credit monitoring company experienced what it’s calling a glitch. That “glitch” allowed people to see strangers’ credit reports and in some cases personal information.

The information was more of a mashup. A person’s proper credit score would appear but when they clicked another tab they would see no personal information on the stranger.

Keep reading and we’ll tell you more about the problem and how the company is responding to the issue.

Bad karma for Credit Karma

One of the most well-known names in the credit monitoring industry is Credit Karma. It’s a free service that millions of Americans use to check their credit scores.

Customers on Twitter have been telling tales of logging in to their Credit Karma account only to find someone else’s credit information.

@creditkarma when I use your account overview it keeps showing me random peoples account history and balances instead of my own #databreach#equifax#equifaxdatabreach#creditkarma

— Quinn™ (@QuinnLife) August 14, 2019

Some people took the news in stride.

Highlight from last night’s dinner with friends… when we all pulled out our phones and opened the credit karma app to look at our scores. #adulting#creditkarma

— Rachel Soria (@rachels209) August 10, 2019

Other Twitter users reached out to warn the public.

Anyone with a #CreditKarma account?

Get in touch please.

— Paul Moore (@Paul_Reviews) August 15, 2019

A spokesperson for CreditKarma told Komando.com there was no evidence of a data breach but rather a technical issue that the company believes has been fixed. The spokesperson added that the problem affected 0.5% of Credit Karma members and “we have confirmed that no Social Security numbers or individual account numbers were exposed.”

The company said it is investigating between 1,000 and 2,000 instances where “personally identifiable information could have been exposed, and if confirmed we will, of course, notify any affected individuals as soon as possible.”

Related: 5 critical settings so hackers can’t access your bank accounts

Equifax’s major data breach

Along with offering free credit score monitoring and reports, Credit Karma also allows users to check their scores against other credit agencies such as Transunion and Equifax.

Equifax, of course, is trying to emerge from a data breach in 2017. And this was a major breach, not just in size but also in the type of information stolen.

More than 145 million Americans’ information was exposed, including Social Security numbers, dates of birth, home addresses, driver’s license and credit card numbers, tax identification numbers, phone numbers, email addresses, credit card expiration dates and issuing states for driver’s licenses.

This year, the U.S. Federal Trade Commission fined Equifax $575 million, which included up to $425 million to help people affected by the data breach.

Free credit report and score

If you’re trying to get a mortgage, take out a car loan, open a new credit card, rent an apartment or find a new job, there’s one thing that can make or break the whole deal. Yep, we’re talking about your credit report.

Click or tap here to read more on how you can fid your credit score.

Please share this information with everyone. Just click on any of the social media buttons on the side.

Please share this information with everyone. Just click on any of the social media buttons below.

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