Palantir Announces Partnership with Beckett Collectibles

Rhea-AI Summary

Palantir Technologies Inc. (NYSE: PLTR) has partnered with Beckett Collectibles to modernize its operations using Palantir Foundry. This software will digitize and integrate decades of data related to collectibles, improving customer access and automating grading and authentication processes. Beckett aims to develop the most comprehensive collectibles database and leverage Foundry for app development. CEO Kunal Chopra highlighted the rapid six-week implementation of the backend rebuild, indicating significant operational efficiency gains.

Positive

• Partnership with Beckett Collectibles to enhance digital transformation.
• Successful integration of legacy systems into Palantir Foundry.
• Rapid implementation of backend software in six weeks, showcasing operational efficiency.
• Target to create the most extensive collectibles data set, enhancing market position.

Negative

• None.

Palantir Foundry will enable Beckett Collectibles to modernize and digitize “decades of data”

DENVER & PLANO, Texas--(BUSINESS WIRE)-- Palantir Technologies Inc. (NYSE: PLTR, "Palantir"), a leading creator of data platforms used by enterprise and growth stage companies, today announced that Beckett Collectibles, the most trusted name in the collectibles industry, is deploying Palantir Foundry across the company’s operations to help accelerate its digital transformation.

Beckett has already begun integrating legacy systems into Palantir Foundry, allowing customers to more rapidly and easily access decades of data about cards, comics, and other collectibles, as well as automating the process of grading and authenticating. Beckett aims to eventually have the most comprehensive data set in the collectibles space and the hobby community, across comics, cards, VHS, and other assets

Foundry will serve as the backend management platform for all collectibles on Beckett, from physical cards to NFTs. Already, Foundry's data-integration capabilities have successfully completed the migration of Beckett's vast historical data to a modern operating system configured to display real-time information. Beckett will also use Palantir’s software to build internal and end-user apps for card digitization, digital tracking, and value assessment.

Founded more than 30 years ago, Beckett Collectibles is a household name in the collectibles industry and possesses troves of information allowing it to price, grade, and authenticate assets, with industry-leading accuracy and integrity. Beckett selected Palantir to propel its digital transformation and modernize its systems. Palantir Foundry is designed to transform the way organizations run by creating a central operating system for their data and integrating siloed data sources into a common operating picture.

“Today’s Beckett customers expect speed, reliability, and trust, and that’s what Palantir’s Foundry offers,” said Kunal Chopra, CEO of Beckett. “We have an incredible wealth of data in our company, and with Palantir’s help, we’ll bring decades of data to our customer’s fingertips in a way that’s fast and secure. A backend rebuild that might have taken four to six months took only six weeks thanks to Palantir Foundry. This partnership is an important step in our effort to build a one-stop-shop platform for collectors to manage their portfolio of alternative investments.”

“We were excited by Beckett’s digital transformation objectives and to help the company unlock the value of long held assets,” said Meredith McNaughton, the head of Palantir’s Foundry for Builders program, which provides Palantir’s platform to early and growth stage companies. “The Foundry platform is uniquely positioned to catalyze real operational transformation. We’re energized by Beckett’s quick progress and to support their growth in the collectibles space.”

Palantir’s software is currently deployed in over 50 industries and powers data-driven decisions across a diverse set of use cases in some of the most complex data environments in the world. The Foundry for Builders initiative has provided the Foundry platform to dozens of early and growth-stage companies in fields ranging from health care, to the construction sector, to entertainment.

About Palantir Technologies Inc.

Foundational software of tomorrow. Delivered today. Additional information is available at https://www.palantir.com.

About Beckett Collectibles

The mission of Beckett Collectibles is to provide the most amazing products and services on the planet for collectors. The iconic brand was founded in 1979 by Dr. James Beckett as a pricing guide for classic American sports cards. The company has since expanded into several other collectible categories with its signature price guidance, grading services, and print and digital tools for enthusiasts and professionals in the hobby. With over 30 years of experience assembling the industry's most comprehensive collectibles database, Beckett is uniquely positioned to become the world's premier alternative assets platform.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir’s expectations regarding the expected benefits of its software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond Palantir's control. These risks and uncertainties include Palantir's ability to meet the unique needs of its customers; the failure of its platforms to satisfy its customers or perform as desired; the frequency or severity of any software and implementation errors; its platforms’ reliability; and its customers’ ability to modify or terminate their contracts. Additional information regarding these and other risks and uncertainties is included in the filings Palantir makes with the Securities and Exchange Commission from time to time. Except as required by law, Palantir does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220831005237/en/

Lisa Gordon

media@palantir.com

Source: Palantir Technologies Inc.

FAQ

What is the significance of Palantir's partnership with Beckett Collectibles?

Palantir is helping Beckett modernize its operations and digitize decades of collectibles data using Foundry, enhancing customer access and operational efficiency.

What is Palantir Foundry being used for at Beckett Collectibles?

Palantir Foundry is being used to integrate legacy systems, automate grading and authentication, and develop apps for digital tracking and value assessment.

How quickly was Beckett able to implement Palantir Foundry?

Beckett completed the backend rebuild using Palantir Foundry in just six weeks, significantly faster than the typical four to six months.

What goals does Beckett Collectibles have with its partnership with Palantir?

Beckett aims to create the most comprehensive data set in the collectibles space, improving its service offerings to customers.

How is Palantir Foundry expected to impact Beckett's operations?

Palantir Foundry is expected to streamline operations, enhance data accessibility, and support Beckett's digital transformation efforts.