Published On: Sun, Aug 3rd, 2014

Alexander Karp’s Palantir Swallows Two Mobile Startups in One Week

 

Alexander Karp

It was as a busy week for Palantir and its CEO Alexander Karp, as the Palo Alto-based company acquired two mobile start-ups, Propeller and Poptip, in just a matter of days. Palantir is a master at data mining and often sniffs out complex projects provided by the FBI, the CIA and Wall Street firms, but it is expanding into the unstructured data provided by social media. Poptip is a 2 year old company that enables corporate clients to analyze conversations on Twitter and conduct surveys. Poptip began as a project founder Kelsey Falter started at Notre Dame University, and receives funding from Lerer Ventures, RSE Ventures and BoxGroup. Terms of the deal have not yet been released.

Palantir also acquired Propeller, a year-old San Francisco-based company worth $1.25 million with backing from Andeersson Horowitz, Menlo Ventures and Foundation Capital. There is speculation that Palantir’s motive for buying Propeller is to expand exposure to mobile, or perhaps it has something to do with the fact that Palantir co-founder Peter Thiel’s Angel fund was one of Propeller’s backers.

Palantir has raised funds from Founders Fund and In-Q-Tel. The company is currently worth $9 billion.

 

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