Palantir co-founder Peter Thiel image : Heisenberg Media on Flickr

Secretive data mining company Palantir notably co-founded by tech protege and investor Peter Thiel and currently led by co-founder and 14 year running CEO Alex Karp has now been reported to be mulling an IPO which could value the company at $41 billion.

This new report comes from the Wall Street Journal citing people familiar with the matter. Co-founder Peter Thiel is said to be discussing plans with Credit Suisse Group AG and Morgan Stanley for an IPO which could take place as soon as he second half of next year.

8VC founder and prominent venture capitalist Joe Lonsdale was part of the Palantir founding team image credit : Fortune Live Media on Flickr

According to WSJ, Morgan Stanley estimated a public offering in 2020 in the range of $36 billion to $41 billion after Palantir shared some of its financials. That range is said to be lower if the IPO takes place earlier.

Palantir stands as one of the most valuable startups with a $20 billion valuation from a most previous 2015 funding. The Palo Alto based company has around $2 billion in total and counts notable backers including prominent private equity firms and individual investors, One of which is billionaire businessman and Home Depot founder Kenneth Langone.

image credit : Cory Doctorow on Flickr

Morgan Stanley has earned about $60 million in fees from arranging private funding for Palantir while embarking on a long relationship with the data mining company. The investment bank leading a Palantir IPO comes as very likely and will stand to even reap much higher fees if a public offering led by it takes place.

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