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Cloud security startup Wiz turned down a Google takeover. Now, it plans to ride the AI boom to an IPO.
- Cloud security startup Wiz grew rapidly, reaching $500 million in annual recurring revenue in just four years.
- Since rejecting a $23 billion Google acquisition, Wiz plans to double its revenue accumulation and go public via IPO.
- COVID-19 pushed the mass shift towards cloud services, boosting Wiz's client base.
- Wiz specializes in providing cloud security for companies in identifying potential risks with their cloud providers.
- AI is a backbone for cloud computing, and its boom has spelled a new era of intensified focus on security and privacy – boosting Wiz's business growth.
- Powering inorganic growth by acquiring other security startups like Rafft, Gem, and Dazz, Wiz plans to dominate the cybersecurity industry.
- European expansion is a critical move for Wiz, which recently opened its headquarters in London.
- Wiz estimates earning 35% of its revenue from Europe, with a market that's more privacy-aware and constrained by security than the USA.
- In its bid for global expansion, Wiz is on the hunt for a CFO to fulfill its public debut goal.
- Wiz is readying two new products, which it plans to release together with its impending hiring spree.
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