By Reuters | Updated: September 24, 2024
Sept 24 (Reuters) – U.S.-Israeli cybersecurity startup Wiz is exploring a potential sale of existing shares at a valuation ranging from $15 billion to $20 billion, Bloomberg News reported on Tuesday.
The company is talking about a transaction that would let existing shareholders tender from $500 million to $700 million of their holdings, the report added, citing people familiar with the matter.
Earlier in July, Wiz ended talks with Google-parent Alphabet (GOOGL.O), opens new tab on a proposed $23 billion deal, a valuation that nearly doubled what the cybersecurity firm announced in May, when it raised $1 billion in a private funding round.
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Venture firms involved in the potential deal include G Squared, Thrive Capital and Lightspeed Venture Partners, the report also said.
The company and the venture firms did not immediately respond to Reuters’ requests for comment.
Wiz provides cloud-based cybersecurity solutions that help companies identify and remove critical risks on cloud platforms, powered by artificial intelligence.
