I'm a senior editor at Forbes covering venture capital and startups, especially in cloud and AI, out of New York. I edit the Midas List and Under 30 for VC, and created the Midas List Europe and Cloud 100 lists. I've written more than a dozen cover stories on business leaders including Marc Benioff, Patrick Collison and Melanie Perkins.
The cybersecurity company valued most recently at $12 billion will instead pursue an eventual IPO, CEO Assaf Rappaport wrote Wiz employees in a letter obtained by Google ’s talks to purchase cybersecurity unicorn Wiz are now dead, per a letter from Wiz CEO Assaf Rappaport shared with the company’s employees on Monday night.
“I know the last week has been intense, with the buzz about a potential acquisition. While we are flattered by offers we have received, we have chosen to continue on our path to building Wiz,” Rappaport wrote Wiz staff in the letter obtained byInstead, Wiz will pursue a $1 billion in annual recurring revenue target ahead of an eventual IPO, the cofounder of the New York-based and Tel Aviv-founded company added.
In the note, which was sent to about 1,200 Wiz employees globally, according to a source with knowledge, Rappaport claimed that it had been Wiz’s decision — not Google’s — to walk away. “Saying no to such humbling offers is tough, but with our exceptional team, I feel confident in making that choice.”New of Google’s “advanced talks” with cloud security provider Wiz was previouslyon July 14, setting off frenzied speculation of what could be the tech giant’s largest-ever acquisition.
Google Google Buys Wiz Wiz IPO Assaf Rappaport Cybersecurity Deal Google $23 Billion Google Larges Acquisition
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