Cybersecurity Startup Wiz Rejects Google's $23 Billion Acquisition Offer, Aims for IPO
14 Sources
[1]
What Is Wiz, the Startup Walking Away From Google's Largest Ever Acquisition?
Google offered to pay nearly twice Wiz's last private-market valuation. Cloud security software company Wiz has reportedly backed out of a deal with Google (GOOGL) that would have valued the company at $23 billion and been Google's largest acquisition to date. Instead, the just four-year-old
[2]
What Is Wiz, the Startup Walking Away From Google's Largest Ever Aquisition?
Google offered to pay nearly twice Wiz's last private-market valuation. Cloud security software company Wiz has reportedly backed out of a deal with Google (GOOGL) that would have valued the company at $23 billion and been Google's largest acquisition to date. Instead, the just four-year-old
[3]
Cloud security startup Wiz walks away from $23B Google acquisition on...
Cloud security startup Wiz has reportedly walked away from talks to be acquired by Google parent Alphabet for $23 billion - a deal which would have been the search giant's largest acquisition to date. Wiz CEO Assaf Rappaport told employees the company will instead pursue an initial public
[4]
Wiz Declines Google's $23 Billion Buyout, Eyes IPO And $1B Revenue Goal
Israeli cybersecurity company Wiz has turned down Google's $23 billion acquisition offer, which would have marked the tech giant's largest purchase to date. The startup is opting instead to proceed with plans for an initial public offering (IPO), according to CNBC. In a memo to employees, Wiz
[5]
Wiz Reportedly Rejects $23 Bln Offer From Google, To Pursue IPO
(RTTNews) - Cybersecurity firm Wiz, which had been in advanced talks to be acquired by tech major Google's parent Alphabet Inc., walked away from the $23 billion offer, and now would pursue its original plan of an Initial public offering, reports said. Wiz co-founder and CEO Assaf Rappaport wrote
[6]
Wiz reportedly ends $23B acquisition talks with Google - SiliconANGLE
Wiz Inc. has reportedly ended discussions with Google LLC about an acquisition that could have valued the cybersecurity startup at $23 billion. The Wall Street Journal and CNBC reported the development today, citing an internal Wiz memo. Chief Executive Officer Assaf Rappaport (pictured, second
[7]
Google's $23 Billion Wiz Acquisition Deal Has Dissolved: Report
The discussions have fallen apart as Wiz seeks to remain independent, Wiz's CEO reportedly told employees Monday. Google's bid to acquire Wiz has disintegrated as the cloud security vendor seeks to remain independent, Wiz's CEO reportedly told employees Monday. Last week, multiple media reports
[8]
Wiz Reportedly Rejects $23 Billion Google Deal
Instead, the company will go ahead with plans for an initial public offering (IPO), CNBC reported late Monday (July 22), citing an internal memo written by Wiz co-founder Assaf Rappaport "Saying no to such humbling offers is tough," Rappaport wrote. A source familiar with Wiz's thinking pointed
[9]
Why this Israeli startup said no to Google's $23 billion acquisition offer - Times of India
Google-parent Alphabet's plans to acquire cybersecurity startup Wiz have reportedly fallen through. The Israeli company is said to have said no to the acquisition, which the media reports pegged at $23 billion. Had the deal proceeded, it would have been Google's largest-ever acquisition to date. In
[10]
Wiz rejects $23bn Google acquisition offer opting for IPO | bobsguide
In a surprising turn of events, cybersecurity firm Wiz has firmly declined Alphabet's $23 billion acquisition offer, opting instead to chart its own course towards an IPO. The rejection, announced by Wiz's CEO Assaf Rappaport, has sent shockwaves through the tech industry, leaving analysts and
[11]
Cybersecurity firm Wiz rejects $23bn bid from Google parent Alphabet
Israeli company aims for stock market flotation after spurning biggest deal in tech group's history The cybersecurity firm Wiz has turned down a $23bn (£18bn) takeover bid from Google's parent Alphabet, spurning what would have been the tech company's biggest ever acquisition and seeking a stock
[12]
Wiz Saying 'No' To Google Was The Right Move: Analysis
The company has a rare opportunity ahead: To become the next cybersecurity giant. Yes, $23 billion is a lot of money to turn down. But in spurning Google's acquisition offer, I believe Wiz is positioning itself for something even bigger -- and even rarer to achieve -- in the cybersecurity
[13]
Google's Aborted Deals Show Antitrust's Long Shadow Over Tech
(Bloomberg) -- In recent months, Google showed interest in two companies, either of which would have been the biggest-ever purchase for the internet giant. And both times, the deals fell apart. On Monday, the chief executive of Wiz Inc. told staff that the cybersecurity startup would reject a $23
[14]
Wiz turning down Google acquisition opens door for Microsoft M&A, Wedbush says
Cybersecurity startup Wiz has reportedly rejected a $23B offer from Google (NASDAQ:GOOG) (NASDAQ:GOOGL) and will instead focus on generating $1B in annual recurring revenue and eventually going public. While that deal may be off the table, it could open the door for Microsoft (NASDAQ:MSFT) to make
Share
Copy Link
Wiz, a rapidly growing cybersecurity startup, has turned down Google's $23 billion acquisition offer, opting instead to pursue an initial public offering (IPO). The decision marks a significant moment in the tech industry and highlights Wiz's ambitious growth plans.
Wiz Declines Google's Record-Breaking Offer
In a surprising turn of events, cybersecurity startup Wiz has reportedly rejected a $23 billion acquisition offer from tech giant Google. This offer would have marked Google's largest acquisition to date, surpassing its $19.65 billion purchase of Motorola Mobility in 2012
1
. The decision by Wiz to walk away from such a substantial offer has sent ripples through the tech industry, raising questions about the startup's future plans and valuation.Wiz's Rapid Growth and Valuation
Founded in 2020 by former Microsoft cloud security experts, Wiz has experienced meteoric growth in just four years. The company's cloud security platform has gained significant traction, attracting high-profile clients such as BMW, Salesforce, and Mars
2
. Wiz's most recent funding round in February 2023 valued the company at $10 billion, making it one of the fastest-growing cybersecurity startups in history3
.Ambitious Revenue Goals and IPO Plans
Instead of accepting Google's offer, Wiz is reportedly setting its sights on an initial public offering (IPO). The company aims to reach $1 billion in annual recurring revenue (ARR) before going public, a goal it expects to achieve by 2025
4
. This target represents a significant increase from its current ARR of approximately $350 million.Market Reaction and Industry Implications
The news of Wiz's decision has sparked discussions about the current state of the tech industry and the valuations of cybersecurity companies. Some analysts view Wiz's rejection of the offer as a sign of confidence in its growth potential and the overall strength of the cybersecurity market
5
.Related Stories
Google's Acquisition Strategy
For Google, the failed acquisition attempt raises questions about its strategy in the cybersecurity space. The tech giant has been looking to bolster its cloud security offerings, and the acquisition of Wiz would have significantly enhanced its capabilities in this area
1
. The company may now need to explore other options to strengthen its position in the competitive cloud security market.The Future of Wiz
As Wiz continues on its path towards an IPO, the company faces both opportunities and challenges. The decision to remain independent allows Wiz to maintain control over its growth strategy and product development. However, it also means the company will need to continue its rapid expansion and meet investor expectations in an increasingly competitive market
4
.References
Summarized by
Navi
Related Stories
Recent Highlights
Recent Highlights
Today's Top Stories
Don’t drown in AI news. We cut through the noise - filtering, ranking and summarizing the most important AI news, breakthroughs and research daily. Follow topics that matter to you and stay ahead.
