Palantir Stock- 2 Creative Ways Palantir Is Growing Its Business
Data software company Palantir (NYSE: PLTR) has made a name for itself, providing the U.S. government and big corporations with the tools to make data-based decisions. Palantir is finding creative ways to uncover new growth opportunities. Investors could benefit from understanding both Palantir’s growth strategy and these two new ways that Palantir is applying it.
Palantir’s acquire, expand, and scale strategy
Palantir services its customers with its two primary products, software platforms named Gotham –– used primarily to service government clients — and Foundry — primarily serving businesses. These platforms take an organization’s data and translate it into a simple language to identify trends and make decisions.
This software gets very close to a customer’s core operations, so doing business with Palantir requires large commitments of time and money. The company’s average customer spends $8.1 million per year on Palantir contracts and carries an average contract length between three to four years.
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The sales process consists of three phases that Palantir calls acquire, expand, and scale.