Wiz rejects Google’s acquisition deal
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 23 July 2024
⏱️ 5 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Tuesday, July 23rd. I'm Julie Morgan. Wiz walks away from Alphabet. Warner Brothers Discovery sends it into |
| 0:18.0 | overtime and does Mattel have a takeover offer or not? |
| 0:22.0 | Cybersecurity startup Wiz have a takeover offer or not. |
| 0:23.0 | Cybersecurity startup whiz walked away from a $23 billion acquisition deal with Google's |
| 0:28.9 | parent alphabet. |
| 0:30.8 | This development was reported by CNBC citing an internal company memo. |
| 0:36.0 | The 12 billion dollar cloud security startup will instead pursue a public offering as previously planned. |
| 0:42.0 | The company CEO said it was tough to say no to such |
| 0:46.6 | humbling offers. He went on to say that the company's next goal is to generate $1 billion in |
| 0:52.4 | annual recurring revenue. |
| 0:54.4 | The reason Wiz decided to go solo may have been influenced by the anticipated regulatory |
| 0:59.9 | review of the transaction. |
| 1:02.2 | The valuation of Wiz would have almost doubled as a result of the deal. |
| 1:06.0 | Established in 2020, the startup had been aiming for an IPO in May. |
| 1:11.0 | The company reached $350 million in annual recurring revenue last year. |
| 1:17.3 | The deal, if completed, would have been Google's largest acquisition so far. |
| 1:28.8 | Warner Brothers Discovery is matching a bid from Amazon.com for rights to show national basketball association games. |
| 1:31.0 | The company is exercising a clause from its existing expiring contract with the |
| 1:36.2 | NBA. |
| 1:37.2 | Warner Brothers Discovery comes in under the wire with its request after the |
| 1:42.2 | NBA Board of Governors approved a new 11-year |
... |
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