Israeli cyber-security firm Wiz has made headlines after rejecting a staggering $23 billion takeover offer from Google’s parent company Alphabet. In an internal memo to staff, Wiz CEO Assaf Rappaport expressed gratitude for the offer but stated the company’s intention to reach $1 billion in revenue before considering going public.
The decision to turn down Google’s offer showcases Wiz’s ambition to become the biggest cyber-security company in the world. With an impressive annual recurring revenue of $500 million and a rapid growth trajectory, Wiz believes it is capable of achieving this goal independently.
Wiz’s founders, who met while serving in the Israeli military, have a track record of success in the cyber-security industry. Their previous venture, Adallom, was acquired by Microsoft for $320 million in 2015. Following their time at Microsoft, the founders launched Wiz in 2020, setting the stage for their current success.
Google’s interest in acquiring Wiz underscores the company’s reputation and potential within the tech industry. Despite the tempting offer, Wiz remains focused on its long-term goals and is preparing for an initial public offering (IPO) to further propel its growth.
The news of Wiz’s rejection of Google’s offer has sparked discussions in the tech community, with many applauding the founders’ strategic decision-making and commitment to building a successful company. As Wiz continues to expand its operations in New York, Tel Aviv, and other US locations, all eyes are on this innovative cyber-security firm as it charts its own path to success.
