In September 2013, Palantir disclosed over $196 million in funding according to a U.S. Securities and Exchange Commission filing.[37][38] It was estimated that the company would likely close almost $1 billion in contracts in 2014.[39] CEO Alex Karp announced in 2013 that the company would not be pursuing an IPO, as going public would make "running a company like ours very difficult."[11] In December 2013, the company began a round of financing, raising around $450 million from private funders. This raised the company's value to $9 billion, according to Forbes, with the magazine further explaining that the valuation made Palantir "among Silicon Valley’s most valuable private technology companies."[11]