Business Insider reported thatGoogle's parent company Alphabet plans to acquire Wiz, a new cybersecurity startup, for $230 billion, and the transaction may be completed in the near future.
However, neither Alphabet nor Wiz responded to this.
Wiz was founded in January 2020 and is headquartered in New York. It was co-founded by Assaf Rappaport, Yinon Costica, Roy Reznik and Ami Luttwak, with Assaf Rappaport as CEO. Its business focuses on helping companies ensure the security of cloud service operations. Its major customers include Salesforce, BMW and American food processor Mars, with annual recurring revenue of approximately US$1 million.
Prior to this, Wiz's co-founder also founded Adallom, a cloud security company in Menlo Park, California, USA, to help companies ensure the security of software-as-a-service operations and provide services such as real-time monitoring of user activities to ensure the security of corporate digital assets.
After the establishment of Wiz, it received US$16 billion in funding from venture capital firms such as a10z, Lightspeed Venture Partners and Thrive Capital this year, with a market value of US$120 billion. This year, it also expanded its cloud security technology through the acquisition of Gem Security, a cloud detection and response company.
As for the acquisition of Wiz, it is expected to help Google Cloud's business and technology growth, while also driving more business development opportunities and competing with Microsoft and Amazon in the cloud service market.
