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How startup Wiz went from zero to a possible $23 bn sale to Google in four years
Livemint
·
1y ago
Medial
Google's parent company, Alphabet, is reportedly in talks to acquire Wiz, a cloud cybersecurity company, for $23 billion. If the deal goes through, it would be the largest exit for a tech startup since Rivian's $77 billion IPO. Wiz was founded by a group of former Israeli military officers who previously sold their cybersecurity company, Adallom, to Microsoft. The potential acquisition by Google would provide enhanced security features for its cloud service and potentially face scrutiny from antitrust regulators.
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Google in talks to buy Wiz for ₹1,92,100 crore in its largest acquisition
Inshorts
·
1y ago
Medial
Google parent Alphabet is in talks to buy cybersecurity startup Wiz for $23 billion (over ₹1,92,100 crore) in its largest acquisition ever, WSJ and Reuters reported. Founded in Israel and headquartered in New York, Wiz provides cloud-based cybersecurity solutions with real-time threat detection and responses powered by AI. According to its website, Wiz works with 40% of Fortune 100 companies.
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Google agrees to buy cybersecurity startup Wiz for $32 billion
Economic Times
·
4m ago
Medial
Google-parent Alphabet is reportedly in advanced discussions to acquire cybersecurity startup Wiz for approximately $30 billion. If finalized, this would be one of Google's largest deals. Previously, Wiz had abandoned a $23-billion deal with Alphabet to prioritize its initial public offering. The startup specializes in cloud-based cybersecurity solutions powered by artificial intelligence, assisting companies in identifying and mitigating critical risks on cloud platforms. The deal could be finalized soon, barring any unforeseen obstacles.
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The big picture behind Google's largest acquisition failure
Livemint
·
12m ago
Medial
Alphabet, Google's parent company, recently attempted to acquire cloud security startup Wiz for $23 billion, but the deal fell through. The acquisition would have helped Google strengthen its presence in the cloud market and diversify its revenue streams. However, regulatory concerns and the trend of vendor consolidation in the tech industry may have posed obstacles to the deal. Additionally, the decline in merger and IPO activity in the startup ecosystem has been attributed to high interest rates, uncertain valuations, and political factors. Despite this, Wiz remains confident in its prospects, as cloud security spending continues to outpace other security products and services.
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Google parent in advanced talks to buy cybersecurity startup Wiz for $23 billion
Economic Times
·
1y ago
Medial
Google's parent company, Alphabet, is reportedly in advanced talks to acquire cybersecurity startup Wiz for around $23 billion. If the deal goes through, it would be Alphabet's largest acquisition and a notable move in the tech industry amidst increased regulatory scrutiny. Wiz, based in New York with research facilities in Tel Aviv, generated $350 million in revenue in 2023 and works with 40% of Fortune 100 companies. Alphabet's decision to pursue Wiz comes after opting not to acquire online marketing software company HubSpot. Neither Alphabet nor Wiz have commented on the potential acquisition.
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Google deal for 'hot market' cyber firm Wiz would bolster cloud security
Economic Times
·
1y ago
Medial
Google's potential acquisition of cloud security company Wiz for up to $23 billion would enhance its cloud security services, particularly for large organizations targeted by hackers. Wiz offers tools that enable organizations to scan their entire infrastructure for threats, giving customers increased visibility into their assets. The move aligns with Google's expansion into cybersecurity, following its purchase of Mandiant two years ago. Wiz, which expects to reach annual revenues of $1 billion by 2025, has capitalized on the growing market for cloud security, driven by the shift to remote work and cloud storage.
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Google's $23 billion plan to buy cybersecurity startup Wiz falls apart
Economic Times
·
1y ago
Medial
Google's potential acquisition of cybersecurity startup Wiz for $23 billion fell through, as Wiz decided to pursue a public listing instead. Wiz aims to generate $1 billion in recurring revenue before going public. While flattered by the offers, Wiz's CEO expressed confidence in building the company independently. Google's largest deal to date was its $12.5 billion purchase of Motorola Mobility in 2012, which was subsequently sold at a loss. The regulatory landscape, as well as the potential delay caused by government review, likely influenced Wiz's decision.
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New-Age Tech Stocks Continue Their Bull Run; MapmyIndia Biggest Gainer This Week
Inc42
·
1y ago
Medial
Fifteen out of the 23 new-age tech stocks covered by Inc42 saw gains this week, with MapmyIndia being the top gainer. DroneAcharya Aerial Innovations was the biggest loser. In other news, online travel aggregator ixigo went public and experienced a 25% increase in its stock in four sessions.
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Wiz walks away from Google’s $23B acquisition offer: Read the CEO’s note to employees
TechCrunch
·
1y ago
Medial
Cybersecurity startup Wiz rejected a $23 billion acquisition offer from Alphabet, despite it being nearly double its last valuation. CEO Assaf Rappaport informed Wiz’s 1200 employees of their decision to stay independent, aiming for $1 billion in ARR and an IPO. The company, founded in 2020, includes former Israeli military officers and notable venture backers like Index Ventures and Sequoia Capital.
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Google parent Alphabet kicks off sale of debut euro bonds
Economic Times
·
3m ago
Medial
Google parent Alphabet Inc. is raising at least €2.5 billion ($2.8 billion) through its debut euro bond sale, following a $5 billion US debt sale. The offering includes a five-part deal with maturities from four to 29 years. This strategic move aims to lower capital costs and facilitate future buybacks and AI investments. Alphabet, with a $95 billion cash balance and significant free cash flow potential, will use proceeds for corporate purposes and repaying debt.
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FY24 Sees Slowest Point of Sale Growth Since Demonetisation
Inc42
·
1y ago
Medial
In March, there was a 32% decrease in debit card transactions at merchant outlets compared to the previous year. However, the adoption of QR codes and UPI payments through platforms like PhonePe, Google Pay, and Paytm has doubled in the past two years. The deployment of new Point of Sale (PoS) terminals increased by 14% between March 2023 and 2024. The government's mandate for zero Merchant Discount Rate (MDR) is encouraging merchants to shift to UPI payments. The number of credit cards issued in India has surpassed 100 million. RBI has issued draft rules to regulate point-of-sale payment service providers.
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