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Google-Wiz deal fizzles out, company will pursue IPO
It would have been Google's largest ever acquisition, but the company has chosen to pursue an IPO rather than an acquisition.
While Google Cloud has seen consistent growth in recent years, the company and its CEO Thomas Kurian faces pressure to continue growing in efforts to capture business during the AI boom. Exits in technology have been rare this year, between startups waiting for more receptive markets before going public and cash-rich companies fearing they wouldn't win regulatory clearance for transactions. "I think what was unique with Wiz in the early days was the amount of money raised from the get-go," Sid Trivedi, an investor at Foundation Capital, told CNBC in an interview.
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