Last summer, we learned that Google was in advanced discussions to buy the startup Wiz for $23 billion. A sum that has the potential to turn heads, but not those of Assaf Rappaport, co-founder and CEO of the Israeli company. He will end up declining the offer, convinced that it is not the right time.
A very difficult decision
This Monday, during the TechCrunch Disrupt 2024 conference, the entrepreneur reversed his decision. He emphasizes thus:
I think we made the right choice. We think it’s bigger, certainly bigger than terminals, bigger than networks, so the opportunity to become a $100 billion-plus company is there. We think the company that’s going to… own the world’s cloud security will be worth over $100 billion.
He adds: “I’m not sure it’ll be Wiz, but if we do the right things and execute them, I think it’s… in our hands”. Obviously, refusing $23 billion is not a choice that can be made easily. Assaf Rappaport confides that he made this turning point in conjunction with his co-founders:
I was super nervous. In a healthy company with a healthy relationship with investors, it’s always the founders’ decision.
Straight in his boots, the manager has complete confidence in his 1,500 employees and he seems convinced that he has the capacity to meet his bet. In any case, he has serious strengths in his game.
Wiz is placed in a very promising market
As a reminder, the Israeli startup has experienced remarkable growth since its creation in 2020. It specializes in cybersecurity solutions for the cloud. A prolific sector, because the cloud computing market includes risks for these infrastructures that are increasingly essential to the global economy.
Enough to boost the figures of the company which reached a turnover of 350 million euros in 2023 and which is today valued at 12 billion dollars. Its clients include prestigious companies, including Amazon, Microsoft, Salesforce, BMW and Morgan Stanley. To find out more about this company which continues to rise, we advise you to read our dedicated article here.
