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Google-Wiz deal fizzles out, company will pursue IPO
41–50 of 288 posts
Re: Google-Wiz deal fizzles out, company will pursue IPO
#42Far 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…
The Groupon of 2024?
Re: Google-Wiz deal fizzles out, company will pursue IPO
#43After 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…
Cause their founders are already Billionaires.
Can you imagine Billionaires reporting to the average corporate robot at large corp?
Re: Google-Wiz deal fizzles out, company will pursue IPO
#44I 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
Re: Google-Wiz deal fizzles out, company will pursue IPO
#45Far 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…
A company built during the pandemic, likely peaked following the Solar Winds aftermath.
yup, overvalued
Re: Google-Wiz deal fizzles out, company will pursue IPO
#46https://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?
It's definitely not uncommon. Illegal? Should be, the question is how they got paid and for what. There are so many C-level shills these days, it's sickening.
Re: Google-Wiz deal fizzles out, company will pursue IPO
#47>Wiz’s founders previously built security startup Adallom, raised money from Sequoia and Index and sold the startup to Microsoft for $320 million in 2015.
Copy, Paste and ask for 70 times more?
Re: Google-Wiz deal fizzles out, company will pursue IPO
#48Founded in 2020, with a $23B valuation, aiming for $1B ARR? CloudFlare is worth $26B and had ~$1.3B revenue last year. Something's fishy here.
Look at their financials, CloudFlare might be popular among the HN crowd but the stock is massively overvalued. At the end of the day they are a commodity CDN that somehow can’t run a profitable business.
And now with their bad hiring practices and shady business deals they might not be popular among HN crowd for long too.
Re: Google-Wiz deal fizzles out, company will pursue IPO
#49Founded in 2020, with a $23B valuation, aiming for $1B ARR? CloudFlare is worth $26B and had ~$1.3B revenue last year. Something's fishy here.
Look at their financials, CloudFlare might be popular among the HN crowd but the stock is massively overvalued. At the end of the day they are a commodity CDN that somehow can’t run a profitable business.
Yeah nah... they have great products and their primary business is allowing them to enter markets where other companies can't compete. The valuation is based on potential not the business as it stands today.
And to your point they are popular with the HN crowd which is usually a strong indicator.
Re: Google-Wiz deal fizzles out, company will pursue IPO
#50Founded in 2020, with a $23B valuation, aiming for $1B ARR? CloudFlare is worth $26B and had ~$1.3B revenue last year. Something's fishy here.
Look at their financials, CloudFlare might be popular among the HN crowd but the stock is massively overvalued. At the end of the day they are a commodity CDN that somehow can’t run a profitable business.
I think GP's point is that wiz's valuation makes even less sense.