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Wiz hopes to hit $1B in ARR in 2025 before an IPO, after turning down Google's $23B
ARRARMOUR Residential REIT(ARR) TechCrunch·2024-10-23 15:08

Wiz co-founder and VP of R&D Roy Reznik told CNBC last week that the company has hit 500millioninannualrecurringrevenue,andplanstodoublethatin2025to500 million in annual recurring revenue, and plans to double that in 2025 to 1 billion. He also reiterated that the 1billion−markisaprerequisitefortheIPOthatWizpromisedemployeeswhenitwalkedawayfromacquisitiontalkswithGooglelastsummerata1 billion-mark is a prerequisite for the IPO that Wiz promised employees when it walked away from acquisition talks with Google last summer at a 23 billion price tag. ARR at the cloud security startup was at about 350millioninMay,butwasalreadyaround350 million in May, but was already around 500 million by July when it walked from Google, ...