Wiz – which offers cloud security products for prevention, active detection and response – is reportedly considering the launch of an IPO after declining a merger proposal by Google parent company, Alphabet, for $23 billion. According to CNBC News, Wiz co-founder and CEO, Assaf Rappaport, informed staff that the company would instead be moving forward with its original proposed offering.
“Saying no to such humbling offers is tough,” said Rappaport in an alleged memo to company employees, obtained by the news outlet CNBC. Its next goals, Rappaport reportedly listed, include an IPO and pulling in $1 billion in annual recurring revenue.
According to an anonymous NBC source, Wiz considered regulatory and shareholder concerns when exiting the potential agreement.
For information on Wiz’s partner program, launched in 2023, click here.
