https://techcrunch.com/2024/07/22/wiz-walks-away-from-googles-23b-acquisition-offer-read-the-ceos-note-to-employees/
Cybersecurity startup Wiz has turned down a $23 billion acquisition offer from Alphabet, Google’s parent company, according to a source familiar with discussions.
Despite the offer representing a substantial premium over its last private valuation of $12 billion, Wiz’s management team with the support of investors has opted to remain independent, the person said.
Wiz’s CEO, Assaf Rappaport, sent an email to Wiz’s 1200 employees around the world, writing that, “Saying no to such humbling offers is tough, but with our exceptional team, I feel confident in making that choice.”
New York-based Wiz was founded in 2020 by four former Israeli military officers who previously co-founded a cloud cybersecurity company called Adallom that Microsoft later acquired for $320 million.
Each of them — including Rappaport, Yinon Costica, Roy Reznik, and Ami Luttwak — reportedly owns 9% of Wiz. The outfit’s venture backers include Index Ventures, Sequoia Capital, and Thrive Capital, among others. ( or put another way, $2 billion apiece).
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