Topics
Latest
AI
Amazon
Image Credits:Avishag Shaar-Yashuv /Wiz(opens in a new window)under aCC BY 2.0(opens in a new window)license.
Apps
Biotech & Health
Climate
Image Credits:Avishag Shaar-Yashuv /Wiz(opens in a new window)under aCC BY 2.0(opens in a new window)license.
Cloud Computing
Commerce
Crypto
Enterprise
EVs
Fintech
fund-raise
Gadgets
Gaming
Government & Policy
Hardware
Layoffs
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
certificate
societal
Space
startup
TikTok
Transportation
Venture
More from TechCrunch
case
Startup Battlefield
StrictlyVC
Podcasts
Videos
Partner Content
TechCrunch Brand Studio
Crunchboard
Contact Us
Cybersecurity startup Wiz has turned down a $ 23 billion acquisition offer from Alphabet , Google ’s parent party , harmonize to a source familiar with discussion .
Despite the pass represent a substantial premium over its last secret valuation of $ 12 billion , Wiz ’s direction squad with the support of investor has prefer to persist main , the soul say .
ace ’s CEO , Assaf Rappaport , ship an email to Wiz ’s 1,200 employees around the world , pen that , “ say no to such humbling crack is tough , but with our exceptional team , I sense confident in get that choice . ”
New York - based Wiz was founded in 2020 by four former Israeli military officeholder who previously co - set up a cloud cybersecurity companionship called Adallom that Microsoft afterwards acquired for$320 million .
Each of them — including Rappaport , Yinon Costica , Roy Reznik , and Ami Luttwak — reportedly owns 9 % of Wiz . The outfit ’s venture angel admit Index Ventures , Sequoia Capital , and Thrive Capital , among others .
Below is the e-mail that Rappaport sent to employees :
Wizards ,
I have a go at it the last hebdomad has been intense , with the buzz about a potential acquisition . While we are flattered by offer we have received , we have chosen to continue on our path to building Wiz .
allow me cut to the chase : our next milestone are $ 1 billion in ARR and an initial offering .
suppose no to such humbling whirl is tough , but with our exceptional team , I sense convinced in making that choice .
The grocery validation we have experienced following this news only reinforces our goal — creating a program that both security and development teams love . We are thankful for the faith our employees , investor , and client have in us as we build the best cybersecurity caller in the world .
give thanks you for your hard work and focus during these days , which facilitate us stay on path and complete the quarter strong than ever . As we always say : LFG .
Assaf
