Cybersecurity startup Wiz Inc. is in talks to promote present shares at a valuation of as a lot as $20 billion, based on individuals with data of the matter.
Wiz, which in July walked away from a deal to be purchased by Alphabet Inc.’s Google for $23 billion, is discussing a transaction that may enable present shareholders to tender $500 million to $700 million of their stakes, stated one of many individuals, who requested to not be recognized discussing non-public discussions.
The corporate might additionally increase cash immediately from traders, one of many individuals stated. The phrases of the providing might change and it could not undergo, the individuals stated.
The New York-based startup connects to cloud storage suppliers equivalent to Amazon.com Inc.’s Amazon Net Companies and Microsoft Corp.’s Azure, and scans knowledge saved there for safety dangers.
Enterprise companies concerned within the transaction embody G Squared, Thrive Capital and Lightspeed Enterprise Companions, the individuals stated. A consultant for G Squared declined to remark. Thrive and Lightspeed didn’t instantly reply to requests for remark. Wiz additionally didn’t instantly reply to a request for remark.
Wiz rejected Google’s provide as a result of it determined it could possibly be price extra as a public firm. The corporate was additionally involved in regards to the prolonged regulatory approval course of if it agreed to be acquired, individuals accustomed to the matter informed Bloomberg in July.
Google’s provide valued Wiz at almost double the $12 billion valuation of a fundraising spherical in Could, which attracted traders together with Andreessen Horowitz, Lightspeed and Thrive Capital.
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