previouslyOutgoingGoogle's parent company Alphabet plans to acquire Wiz, a new cybersecurity startup, for $230 billion and may complete the transaction in the near future. However, Wiz's subsequentDecided to reject the acquisition, emphasizing that the next goal will still be to go public through an IPO.
Sources quoted Wiz CEO Assaf Rappaport's internal statement, emphasizing that the goal is to increase annual recurring revenue (ARR) to US$10 billion while continuing to promote a public offering.
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.
