3 ms·

Their last raise was two months ago at a valuation of $12bn. Google was offering a premium to take them off the market. https://techcrunch.com/2024/05/07/wiz-r

• underdeserver 2y ago
  Likely offering a very large premium to offset the risk of antitrust holding up the deal. The Activision-Blizzard sale was at a premium of around 60% from stock price ($56 per share trading the day before the announcement, compared to $95 per share offer). Wiz was offered a premium of almost 100% on latest valuation. Both Wiz and Google know that the FTC will hold up the deal, and in that time, Wiz has to convince customers not to jump ship (Google will likely not support AWS forever), and risk that the deal falls through - in which case they've gone a year without momentum. If they really believe they can make a strong IPO, and keep growing past IPO, their decision makes a lot of sense.