Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Google-Wiz deal fizzles out, company will pursue IPO

cnbc.com

Post reply on HN
Print view View original

111–120 of 288 posts

Re: Google-Wiz deal fizzles out, company will pursue IPO

#111

Post by llm_trw »

mihaic wrote: post #110

Over a certain threshold, all software companies seem to degenerate into sales companies. Honestly, I'm just mildly shocked of the $23B valuation for a product that I'd expect to have taken waaay less than 1% of that in dev costs. What I'm more shocked is that Google decided they can't build the same thing themselves. Maybe I don't understand the complexity of the product?

>What I'm more shocked is that Google decided they can't build the same thing themselves.

Faang is where amazing engineers go to produce nothing of value.

Re: Google-Wiz deal fizzles out, company will pursue IPO

#112

Post by gustavorg »

ilrwbwrkhv wrote: post #51
dboreham wrote: post #19

Earlier quoted context omitted.

Add me to the haven't heard of them list. Mind you I almost hadn't heard of Crowdstrike and they managed to brick the world.

Yup the world is big and even though we think we have heard stuff, there are more things beyond that. For example, I know a dev who makes mobile apps and clears 500_000 / month in profit and yet their app isn't really "popular". It is crazy.

You are going to say what the app is, right? right?

Re: Google-Wiz deal fizzles out, company will pursue IPO

#113

Post by sofixa »

thriftwy wrote: post #93
solatic wrote: post #81

Earlier quoted context omitted.

On the one hand, even with the post-crash dip, CRWD has a $60.9 billion market cap, there's certainly marketshare to be taken from them. On the other hand, Wiz doesn't have an endpoint protection product (which is what failed for CRWD). They'd have to build one from scratch, which requires dedicated talent (engineers with kernel experience) that they might not have. If anyone is going after CRWD it'll be one of their…

These numbers sound like a complete out of world fantasy to me. CRWD has a product that the user is not going to notice, best case. Now you said Wiz doesn't even have that one (what does it have then?) And their valuation is on par with the whole annually Western support of Ukraine. A country at war and with 30M people in it. That for some completely invisible product. It is also 17 millions of these most expensive b…

Crowdstrike does endpoint security (user's PCs and servers too for checkbox ticking reasons).

Wiz does cloud security. The same thing as Crowdstrike, but runs in your cloud environment (AWS/GCP/Azure) to detect issues there.

Different customers, different profiles, different costs and prices.

Re: Google-Wiz deal fizzles out, company will pursue IPO

#115

Post by Ygg2 »

llm_trw wrote: post #111
mihaic wrote: post #110

Over a certain threshold, all software companies seem to degenerate into sales companies. Honestly, I'm just mildly shocked of the $23B valuation for a product that I'd expect to have taken waaay less than 1% of that in dev costs. What I'm more shocked is that Google decided they can't build the same thing themselves. Maybe I don't understand the complexity of the product?

>What I'm more shocked is that Google decided they can't build the same thing themselves. Faang is where amazing engineers go to produce nothing of value.

Hey, some of that non-value is actually negative! See ads.

Re: Google-Wiz deal fizzles out, company will pursue IPO

#117

Post by sofixa »

shmatt wrote: post #95

I have to take the other side than most comments here. Most of the coverage about the Wiz offer called out that this was an odd way for them to end up in - as the founders openly talked about waiting for that $1b ARR since almost day one To me it feels like Google was trying to put pressure on employees and any other non board option holders. There were dozens of articles and analysis of exactly bow many new milliona…

> that this was an odd way for them to end up in - as the founders openly talked about waiting for that $1b ARR since almost day

That doesn't mean much. I've worked at a company that kept taking about "our goal is to reach magic number X" and etc. until one they announce a sale.

Situations change, business plans evolve, and money talks.

Re: Google-Wiz deal fizzles out, company will pursue IPO

#118

Post by zaguios »

rapsey wrote: post #97
mirzap wrote: post #57

Earlier quoted context omitted.

A lot of them didn't, ie, Facebook, Google, Twitter, Netflix, Snapchat. I wonder if this rejection is related to the CrowdStrike incident. Are they expecting or already experiencing a significant influx of new clients? I'm unsure if their services overlap, just curious.

Snapchat is still not profitable and doing very poorly in the public market.

The offer was for $3 billion. They are worth $24 billion today…

In absolutely no world would have taking that offer been the right decision.

Re: Google-Wiz deal fizzles out, company will pursue IPO

#120

Post by qeternity »

llm_trw wrote: post #114
nothrowaways wrote: post #27

23B is a staggering number for a 4 year old cyber security startup with 900 employees

That's 800 employees too much. The reason why tech sucks these days is because everyone over hires and empire builds.

Sales. They have huge ARR after a few short years because it’s a sales org with a few engineers scattered about.
Post reply on HN