2024-07-25 13:59:15
The Israeli cybersecurity company Wiz, would have rejected Google and its multi-million dollar offer that would make him the owner of said startup, and he did it for these reasons.
According to various financial portals, if you had accepted the millionaire offer, Wiz It would have become the second acquisition of Google after the purchase of Mandiant in 2022.
Wiz is a cybersecurity company that eliminates risks in the cloud, this through artificial intelligence, so would have served Google and its infrastructure for its storage platform.
Wiz rejected a multi-million dollar offer from Google and these are his reasons
In a bulletin issued by the Wiz CEO Assaf Rappaport, confirmed that it had abandoned negotiations to acquire the company for $23 million, offer allegedly from Google.
According to reasons given by the director of Wizwants the cybersecurity startup to reach $1 billion in annual recurring revenue and an initial public offering.
And according to various media outlets, the Wiz CEO called Google’s offer “humiliating” Although it is difficult to say no, despite this, he feels confident in his decision to reject it.
CNN reported in early July that the Google matrix, Alphabet I was interested and in negotiations with Wiz to buy it for $23 million after the startup was valued at $12 billion.
Despite what has been said by various media outlets, so far Google and Wiz have not confirmed whether negotiations have actually endedas they have refused to make any statements about the rejection of the offer.
It is also unknown whether Google will look for other cybersecurity companies despite the lawsuit it faces for monopoly, however, Wiz will maintain its intention to enter the stock market.
Wiz rejected Google and its million-dollar offer (Wiz via Facebook)
Google Cloud, the reason why it would want to buy Wiz, leaves this millionaire profit to the search engine
As noted by financial media outlets such as Business Insider, Google makes $33 billion in profits a year thanks to its cloud service.
However, Reuters and AFP shared the Google parent Alphabet’s quarterly reportwhich saw revenue growth of 14% year-on-year from April to June 2024 alone, totaling $84.74 billion.
Of the same, in said period and only for their Google Cloud Platform, obtained 23.6 billion dollarswith a growth of 28.8%, also exceeding its estimates.
The rest of the figure is due to advertising, that is, 64.6 billion are only from sales through ads, being Alphabet’s main income and consequently of Googlewith a growth of 11%.
Google and its profit
(Unsplash)
2024-07-25 13:59:15