Wiz walks away from Google bid: Here's what analysts think

Category: Business

Wiz rejected a $23 billion acquisition offer from Google to pursue an IPO, citing aspirations for $1 billion in annual recurring revenue. Analysts suggest the decision may relate to Wiz's multi-cloud product positioning and potential regulatory concerns. Despite a declining IPO market, investor support is expected to sustain Wiz through its IPO ambitions.

Keywords: Wiz, IPO, Google acquisition

Source: FierceTelecom

Update At: 7/24/2024

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