Um Hm..Owned by PETER THIEL (the first investor in FACEBOOK, Founder of PAYPAL) used for Government Intelligence n Fraud Detection, huh??!! en.wikipedia.org/wiki/Palantir_Technologies ------------------------------------------------------------------------------------- Officially incorporated in May 2003,[2] Palantir is generally considered to have been founded in 2004 by Peter Thiel, Alex Karp,[3] Joe Lonsdale,[4] Stephen Cohen, and Nathan Gettings. Early investments were $2 million from the US Central Intelligence Agency venture arm In-Q-Tel, and $30 million from Thiel and his firm, Founders Fund.[5][6][7][8] Alex Karp is Palantir’s CEO.[9] Palantir’s name comes from the seeing stones in J. R. R. Tolkiens fantasy epic The Lord of the Rings. Headquartered in Palo Alto, California, the company has four international offices and four in the United States.[10] Palantir developed its technology by computer scientists and analysts from intelligence agencies over three years, through pilots facilitated by In-Q-Tel.[11] The software concept grew out of technology developed at PayPal to detect fraudulent activity, much of it conducted by Russian organized crime syndicates.[5] The company said computers alone using artificial intelligence could not defeat an adaptive adversary. Palantir proposed using human analysts to explore data from many sources, called intelligence augmentation.[12] In April 2010, Palantir announced a partnership with Thomson Reuters to sell the Palantir Metropolis product as QA Studio.[13] On June 18, 2010, Vice President Joe Biden andOffice of Management and Budget Director Peter Orszag held a press conference at the White House announcing the success of fighting fraud in the stimulus by the Recovery Accountability and Transparency Board (RATB). Biden credited the success to the software, Palantir, being deployed by the federal government.[14] He announced that the capability will be deployed at other government agencies, starting with Medicare and Medicaid.[15][16][17][18] Estimates were $250 million in revenues in 2011.
Posted on: Sun, 28 Dec 2014 23:44:51 +0000
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