151–160 of 288 posts
I was like "how the f* is a website builder possibly worth $23B" and then I realized Wiz is not Wix. And then I realized Wix has a market capitalization of $9B, and I'm still WTF.
Earlier quoted context omitted.
> Sometimes it's not about the money it's always about the money.
Well, Wiz's founders reportedly made $10-$30 million each on the Adallom sale. It might be about the money but it's not like they need it.
you dont know that. when you start getting high networth, you end up comparing yourself to the _even higher_ networth people.
Far more likely is Google was not willing to complete the deal and was pulling the plug after looking at internal data. Wiz, fearing the bad press of Google backing out rushes to tell journalists that THEY are walking away because they are worth more. Wiz's valuation is insane. Most people havent even heard of them. I think it was a > 60x ARR multiple on this deal. Id actually be kinda pissed if I was a google shareh…
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.
Do you know of Active Directory? Most have no idea, even though it is a Windows Server feature from 2000.
Some will live a life and even work not knowing.
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.
This is positive for Google. Spending $23bn on a company of that size was insane. Shareholders are probably relieved.
Don't think so. Google has a relatively good track record for acquisitions. So I don't think they were really worried.
Earlier quoted context omitted.
Cause their founders are already Billionaires. Can you imagine Billionaires reporting to the average corporate robot at large corp?
Oh yes, I fancy that. Quite a lot actually. The joy of seeing equal humans.
Why would Google even consider this? They're an advertising company and haven't really made any money from anything but advertising. What would they do with this?
Buying a strategic complement where you can multiply the company's ARR overnight by integrating with your own suite makes sense.
Or commoditizing this complement by offering it for free as a differentiator to competitors (Azure, AWS) would also make sense.
Plenty of options to choose from.
I feel like I am uninformed. Can someone provide some background? Who in the fuck is Wiz, and why in the fuck might anyone think that they're worth 11 figures?
I've been waiting for the Silly Valley insanity to stop for about the past 15 years, but its like its been permanently stuck in 1999 mode. With a few brief hiccups like Juicera and Theranos. I guess VCs just don't have anything better to do with their money, than throw it at a wall of shit and see what sticks
80 failed projects is still a +ev outcome for a VC if they hit their 100x proposition on the 81st.