It was reported yesterday that the secretive data-mining company Palantir Technologies is considering an IPO that would value the company at more than $41 billion. This valuation is more than double the company’s previous $20 billion valuation after the company closed a $880 million round of funding in 2015.

Palantir’s Previously Delayed IPO

Though there had been reports the company might go public as early as last year, rumors that the company was struggling to hold onto the high valuation may have delayed the matter. With the exit of key clients Hershey and Nasdaq, and a reduction in holdings by GSV Capital and Morgan Stanley of 11% and 47% respectively, speculations as to why the company may have delayed its earlier plans at an IPO have been running rampant.

Palantir’s Relationship with Morgan Stanley

Now however, after allegedly sharing its financials with Morgan Stanley, there seems to be a renewed interest in taking the company public. This IPO, which may happen  as early as the first half of 2019, is reported to have the company valued at more than $41 billion. The move is also being considered in concert with Credit Suisse Group AG. To date Morgan Stanley has made as much as $60 million arranging private funding for Palantir. If the IPO moves forward as anticipated however, that number may as much as double.

Government and Banking Clients

It is said that nearly half of all of Plantir’s revenue is generated from government contracts. Currently, that number may be even higher however. The two largest projects the company has undertaken to date are, Palantir Gotham and Palantir Metropolis. Palantir Gotham is a platform used by counter-terrorism analysts, cyber analysts, and fraud investigators, while Palantir Metropolis is used by hedge funds, banks, and the financial service sector.

The company, which was co-founded in 2014 by Peter Thiel, is said to have raised as much as $2 billion in funding to date.