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

31–40 of 288 posts

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

#31

Post by dmitrygr »

immortal3 wrote: post #6

After the acquisition, I think Wiz would have to only focus on Google Cloud which might be a major limiting factor in the company's future. But other than that, It surprises me that, a $23B offer is rejected from the perspective of Employees. IPO won't provide the same level of liquidity opportunities. I have used Octa and it's a decent platform, not a magical one. Creating a similar platform for Google Cloud should…

> It surprises me that, a $23B offer is rejected from the perspective of Employees

HA! Who asked them? I've never seen a startup ask the employees whether to take an acquisition offer.

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

#32

Post by walterbell »

chatmasta wrote: post #29
ds wrote: post #7

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…

They’ve had some really nice writeups but I always thought they were your generic security firm doing some bug hunting. Recently I happened upon their domain submissions to HN and saw they raised $1b+ and was like wtf? What do they actually do? I mean what are their products that people pay for? Maybe there are obvious answers to these questions, but if a company is worth $23bn I’d expect that as somebody in the indu…

https://old.reddit.com/r/cybersecurity/comments/1c1s9r2/wiz_...

> Wiz combines a graph search for asset management with agentless vuln and malware scanning that clones EBS volumes and scans them on their infrastructure. That's a great combo for vuln management, but has some downsides like delays between scans and cloud costs. They have a sensor with solid detection rules, and are okay at a bunch of other stuff like cloud log threat detection and sensitive data detection. They've basically pushed what you can do without an agent to the limit.

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

#33

Post by Marsymars »

samspenc wrote: post #11
CaveTech wrote: post #4

Earlier quoted context omitted.

This is not the same Wiz.

Didn't realize there was a WiZ that specializes in home lighting https://www.wizconnected.com/en-us Per their About Us page, they are an "IoT platform for smart lighting solutions and smart services" and "offer people connected lighting".

That's actually the only "wiz" I was familiar with in the tech space. They're Philip Hue's budget line for the past 5 years and they've got various partner brands (most the notably Walmart house brand) that use their smart platform.

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

#35

Post by chatmasta »

walterbell wrote: post #32
chatmasta wrote: post #29

Earlier quoted context omitted.

They’ve had some really nice writeups but I always thought they were your generic security firm doing some bug hunting. Recently I happened upon their domain submissions to HN and saw they raised $1b+ and was like wtf? What do they actually do? I mean what are their products that people pay for? Maybe there are obvious answers to these questions, but if a company is worth $23bn I’d expect that as somebody in the indu…

https://old.reddit.com/r/cybersecurity/comments/1c1s9r2/wiz_... > Wiz combines a graph search for asset management with agentless vuln and malware scanning that clones EBS volumes and scans them on their infrastructure. That's a great combo for vuln management, but has some downsides like delays between scans and cloud costs. They have a sensor with solid detection rules, and are okay at a bunch of other stuff like c…

> clones EBS volumes and scans them on their infrastructure

Crowdstrike: “you just install a kernel module with ring zero access and we’ll make sure you’re protected”

Wiz: “hold my Red Bull…”

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

#36

Post by leereeves »

walterbell wrote: post #21

https://www.calcalistech.com/ctechnews/article/b1a1jn00hc > [Cyberstarts] has a portfolio of only 22 companies whose combined value is $35 billion. Five of these companies are unicorns, first and foremost Wiz, which seems to be breaking all the rules of growth and success and setting new standards in the industry.. In all three of his funds, Ra'anan shows an internal rate of return of more than 100%, an unusual figur…

The first link alleges that Cyberstarts pays kickbacks to CISOs who buy their products. Is that legal?

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

#38

Post by satvikpendem »

dmitrygr wrote: post #31
immortal3 wrote: post #6

After the acquisition, I think Wiz would have to only focus on Google Cloud which might be a major limiting factor in the company's future. But other than that, It surprises me that, a $23B offer is rejected from the perspective of Employees. IPO won't provide the same level of liquidity opportunities. I have used Octa and it's a decent platform, not a magical one. Creating a similar platform for Google Cloud should…

> It surprises me that, a $23B offer is rejected from the perspective of Employees HA! Who asked them? I've never seen a startup ask the employees whether to take an acquisition offer.

Yep. I'm pretty sure just the C suite made this decision unilaterally.

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

#40

Post by runevault »

justahuman74 wrote: post #12

Can they just buy all the shares on the open market then?

Depends on what % of the company is put on the market. Could Google buy every available share if they are willing to spend enough money? Sure. But if there are not enough shares on the market to give them a controlling interest they still can't hostile takeover that way.
Post reply on HN