Wiz Rejects Google's $23B Acquisition Offer, CEO Assaf Rappaport Confirms

Cybersecurity startup Wiz has declined a $23 billion acquisition offer from Alphabet, Google's parent company, according to sources familiar with the discussions.

Despite the offer significantly exceeding Wiz's last private valuation of $12 billion, the management team, supported by investors, chose to remain independent, according to the source.

Assaf Rappaport, Wiz's CEO, addressed the decision in an email to the company's 1,200 employees worldwide, stating, "Turning down such significant offers is challenging, but with our outstanding team, I am confident in this choice."

Founded in New York in 2020 by four former Israeli military officers who previously co-founded the cloud cybersecurity company Adallom (acquired by Microsoft for $320 million), Wiz has rapidly grown in the cybersecurity sector. The founders—Rappaport, Yinon Costica, Roy Reznik, and Ami Luttwak—each reportedly hold a 9% stake in the company. Wiz's venture backers include Index Ventures, Sequoia Capital, and Thrive Capital, among others.

Below is the email Rappaport sent to employees:

Wizards,

I know the last week has been intense, with the buzz about a potential acquisition. While we are flattered by the offers we have received, we have chosen to continue on our path to building Wiz.

Let me cut to the chase: our next milestones are $1 billion in ARR and an IPO.

Turning down such significant offers is challenging, but with our outstanding team, I am confident in this choice.

The market validation we have experienced following this news only reinforces our goal – creating a platform that both security and development teams love. We are grateful for the faith our employees, investors, and customers have in us as we build the best cybersecurity company in the world.

Thank you for your hard work and focus during these days, which helped us stay on track and finish the quarter stronger than ever. As we always say: LFG.