Palantir chairman Peter Thiel Image by Dan Taylor / Heisenberg Media

According to a Bloomberg piece, Palantir — the data-mining company valued at $11 billion that recently landed an $800 million contract with the U.S. Army — will likely go public next year, taking longer than its own expectations. Bloomberg says Palantir has told investors it could go public in the second half of this year but now appears unlikely to meet that goal, citing persons familiar with the company, who are saying that next year is a more realistic date.

Issues holding the company back include the need to find enough experienced finance employees to handle a public debut and to build up its young sales team. The company also has only one independent board member which could signal red for an IPO.

Palantir generated nearly $1 billion in 2018 revenue, a fiscal boost that’s key to an IPO. This is up from $600 million a year earlier. Even amid growing sales, the company has had quite some turmoil. It recently slashed its own stock price, issuing employee stock options at about $6 a share, an implied valuation of roughly $11 billion. This is down from a $20 billion valuation in 2015.

The data-mining company is also said to be clashing with investor Morgan Stanley over its valuation appraisal.

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