Wiz walks away from Google’s $23B acquisition offer: Read the CEO’s note to employees

Wiz has declined Alphabet's $23B acquisition offer, aiming for $1 billion in ARR and an IPO, per CEO Assaf Rappaport's email to employees.

: Cybersecurity startup Wiz turned down Alphabet's $23 billion acquisition offer despite it being substantially higher than its $12 billion valuation. CEO Assaf Rappaport informed the company’s 1200 employees of the decision via email. Rappaport emphasized a focus on reaching $1 billion in ARR and preparing for an IPO.

Cybersecurity startup Wiz has declined a $23 billion acquisition offer from Alphabet, Google's parent company, despite the offer representing a substantial premium over its last private valuation of $12 billion. The decision was made with the support of investors and communicated by an individual familiar with the discussions.

Wiz’s CEO, Assaf Rappaport, addressed the company's 1200 employees in an email, acknowledging the intense week and the buzz about a potential acquisition. He elaborated that despite the flattering offers, Wiz's management team is committed to continuing their independent path.

Rappaport stressed the focus on hitting the next milestones of achieving $1 billion in annual recurring revenue (ARR) and an initial public offering (IPO). He expressed confidence in the team and the market validation they have experienced, reinforcing their goal of building the best cybersecurity company in the world.