Wiz has turned down a whopping $23 billion acquisition offer from Google, opting to pursue an IPO as originally planned. Wiz co-founder Assaf Rappaport explained that the decision is partly due to antitrust and investor concerns. The deal would have almost doubled Wiz’s recent $12 billion valuation. The startup’s cloud security products have attracted large firms and could have helped Google compete with rivals like Microsoft. The collapse of the deal is disappointing for venture firms with stakes in Wiz, who were hoping for a successful exit. Wiz has experienced rapid growth, hitting $350 million in annual recurring revenue in 2023.
https://www.cnbc.com/2024/07/23/google-wiz-deal-dead.html