“A person familiar with Wiz’s thinking, who requested anonymity to discuss private matters freely, said the company weighed antitrust and investor concerns as reasons for abandoning the potential deal.”
Google offered $23 billion, nearly double Wiz’s last $12 billion valuation and almost twice the Motorola price that is still Google’s record. Wiz says it will chase an IPO and $1 billion in annual recurring revenue, up from $350 million last year. The losers are Sequoia, Index, Insight and Lightspeed, whose giant funds need exits above $10 billion to pay their limited partners. Antitrust and investor worries just killed the biggest check Google ever tried to write.