Palantir Technologies CEO Alex Karp arrives at the Top “Tech for Good” in Paris, France on May 15, 2019.
Charles Platiau | Reuters
Data analytics software company Palantir Technologies is moving its headquarters to Denver, Colorado from Palo Alto, California, CNBC confirmed Wednesday.
The company updated its website where it now names Denver as the site of its headquarters. It also updated its pages on social media to reflect the change.
The Denver Business Journal first reported news of a possible move.
Co-founded in 2004 by billionaire investor Peter Thiel, Palantir is a data analytics company that provides software to large companies and government agencies. Palantir also announced in early July that it was submitting a confidential bid for a public offering.
It is not immediately clear how many of Palantir’s more than 2,500 global employees will be affected.
Chief Executive Officer Alex Karp has been open about a potential move in the past. In an interview with Axios on HBO in May, Karp said he was against Silicon Valley’s “growing intolerance and monoculture” and was close to a decision on whether to move or not. Carp said that at the time Colorado was considered.
Thiel explained in 2013 to The Wall Street Journal why Silicon Valley is not an ideal place for start-up employees to work and live.
“We need to figure out ways to make housing more affordable in these places,” Thiel said. “When people start businesses, they are typically paid in cash and not a large salary. The way rent and rent costs have gone through the roof in a number of cities where people are going to start businesses is a huge problem. Destination rules, though -intended, had the effect of making it almost impossible for people to take a pay cut and make a leap. ”
Thiel, an early Facebook investor and board member there, was a proponent of Trump’s 2016 presidential campaign and spoke at the Republican National Convention. In 2018, he moved from Silicon Valley to Los Angeles. The Los Angeles Times said in 2018 that Thiel’s move may have been made because of “backwardness of tech tech peers, especially in the ranks of Facebook,” for supporting Trump and that he was “surprised by what he did. called a ‘visceral reaction’ in socially liberal Silicon Valley to his support of the president. “
Josh Lipton and Lora Kolodny of CNBC contributed to this report.
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