The cyber startup that recently withdrew from a sale to Google for $23 billion is in talks to sell shares, according to Bloomberg. The value of the company in the deal: $15-20 billion. The deal will allow the shareholders to sell holdings in the amount of up to $700 million.
Assaf Rappaport’s Israeli cyber startup Wiz is in talks to sell existing shares at a company value of up to $20 billion, reports Bloomberg. Last July, Wiz withdrew from a deal to sell it to Google at a value estimated at $23 billion.
According to the report, the new deal will allow existing shareholders in Wiz to sell their shares for a total amount of 500-700 million dollars. The contacts are based on a company value of 15-20 billion dollars. The last capital raising carried out by Wiz last May – the largest in the history of Israeli high-tech – was carried out at a value of 12 billion dollars.
Bloomberg reports that Wiz may even raise additional capital from investors, but the terms of the deal may still change. The venture capital funds G Squared, Thrive Capital and Lightspeed are involved in the emerging deal. Wiz and the funds did not respond to inquiries from Bloomberg.
“Saying no to such respectable offers is difficult,” wrote Rapaport, Wiz’s CEO and one of its founders, in a letter he sent to employees in July in which he announced the withdrawal from talks to sell the company to Google, according to reports on American websites. In the letter, Rapaport stated that Wiz will focus on becoming a public company and generating annual income fixed at a billion dollars even earlier. These are the same goals that the company was aiming for before the reports of the giant Google offer.
In an email he sent to the 1,200 employees, Rapaport wrote that “I know the last week has been intense, with the rumors of a potential acquisition. While we are flattered by the offers we have received, we have chosen to continue on our way to building Wiz.”
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