Trends
Wiz rejects $23B offer from Alphabet, stays independent
OUR TAKEWiz turning down $23 billion from Google’s momma? That’s like saying no to a golden ticket to the candy store. But hey, Assaf Rappaport and his crew are no strangers to success. Remember Adallom? They cashed out big with Microsoft. Now, with Wiz, they’re betting on themselves again. It’s a r…
Headline
OUR TAKEWiz turning down $23 billion from Google’s momma? That’s like saying no to a golden ticket to the candy store. But hey, Assaf Rappaport and his crew are no strangers to success. Remember Adallom? They cashed out big with Microsoft. Now, with Wiz, they’re betting on…
Context
OUR TAKE Wiz turning down $23 billion from Google’s momma? That’s like saying no to a golden ticket to the candy store. But hey, Assaf Rappaport and his crew are no strangers to success. Remember Adallom? They cashed out big with Microsoft. Now, with Wiz, they’re betting on themselves again. It’s a risky move, but hey, sometimes you gotta trust your gut and go for the long game. Let’s see if Wiz can keep the momentum going and prove they’re worth even more than that eye-popping offer. –Miurio huang, BTW reporter Cybersecurity startup Wiz has decided to reject a staggering $23 billion acquisition offer from Alphabet, Google ’s parent company. This development comes despite the offer being significantly higher than Wiz’s most recent private valuation of $12 billion. According to a source familiar with the negotiations, Wiz’s management team, supported by its investors, has opted to remain independent.
Evidence
Pending intelligence enrichment.
Analysis
Assaf Rappaport, CEO of Wiz, communicated the company’s decision to its global workforce of 1,200 employees via an email. In his message, Rappaport acknowledged the difficulty of turning down such a substantial offer but expressed confidence in the company’s decision to continue its current trajectory. Founded in 2020, Wiz was established by four former Israeli military officers—Assaf Rappaport, Yinon Costica, Roy Reznik, and Ami Luttwak. The founders previously co-founded Adallom, a cloud cybersecurity company acquired by Microsoft for $320 million. Each of the founders holds a 9% stake in Wiz. The company is backed by prominent venture capital firms, including Index Ventures, Sequoia Capital, and Thrive Capital. Also read: Google’s acquisition target Wiz is Israel’s military tech seed Also read: Alphabet plans to acquire cybersecurity startup Wiz for $23B
Key Points
- Cybersecurity startup Wiz has decided to reject a staggering $23 billion acquisition offer from Alphabet, Google’s parent company.
- The refusal of such a significant acquisition offer highlights Wiz’s confidence in its future prospects and its desire to continue shaping the cybersecurity landscape on its own terms.
Actions
Pending intelligence enrichment.
