Wiz, a cloud security startup, has decided to forgo a $23 billion acquisition deal with Google‘s parent company Alphabet Inc. (NASDAQ:GOOGL), (NASDAQ:GOOG) and will instead focus on an initial public offering.
What Happened: The acquisition, which would have been Google’s largest, was called off due to antitrust and investor concerns, according to a CNBC report on Monday.
“Saying no to such humbling offers is tough,” Wiz co-founder Assaf Rappaport informed employees of the decision in a memo, emphasizing the company’s commitment to its pre-existing goals, including an IPO and reaching $1 billion in annual recurring revenue. The report cited a person familiar with the company’s thinking.
The deal would have nearly doubled Wiz’s $12 billion valuation from its most recent funding round. The startup, founded in 2020, has …
Full story available on Benzinga.com
Wiz, a cloud security startup, has decided to forgo a $23 billion acquisition deal with Google‘s parent company Alphabet Inc. (NASDAQ:GOOGL), (NASDAQ:GOOG) and will instead focus on an initial public offering.
What Happened: The acquisition, which would have been Google’s largest, was called off due to antitrust and investor concerns, according to a CNBC report on Monday.
“Saying no to such humbling offers is tough,” Wiz co-founder Assaf Rappaport informed employees of the decision in a memo, emphasizing the company’s commitment to its pre-existing goals, including an IPO and reaching $1 billion in annual recurring revenue. The report cited a person familiar with the company’s thinking.
The deal would have nearly doubled Wiz’s $12 billion valuation from its most recent funding round. The startup, founded in 2020, has …
Full story available on Benzinga.com
Wiz, a cloud security startup, has decided to forgo a $23 billion acquisition deal with Google‘s parent company Alphabet Inc. (NASDAQ:GOOGL), (NASDAQ:GOOG) and will instead focus on an initial public offering.
What Happened: The acquisition, which would have been Google’s largest, was called off due to antitrust and investor concerns, according to a CNBC report on Monday.
“Saying no to such humbling offers is tough,” Wiz co-founder Assaf Rappaport informed employees of the decision in a memo, emphasizing the company’s commitment to its pre-existing goals, including an IPO and reaching $1 billion in annual recurring revenue. The report cited a person familiar with the company’s thinking.
The deal would have nearly doubled Wiz’s $12 billion valuation from its most recent funding round. The startup, founded in 2020, has …Full story available on Benzinga.com Read MoreEquities, GOOG, GOOGL, Google, Kaustubh Bagalkote, M&A, News, Wiz, IPOs, Global, Startups, Markets, GOOG, US38259P7069, GOOGL, US38259P5089, News, M&A, Equities, IPOs, Global, Startups, Markets, Benzinga IPOs
