Wiz Stock: Back on Track to IPO after Rejecting Google
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Table of Contents
Recent Wiz News
09/24/2024: Wiz In Talks to Sell Shares at Valuation as High as $20 Billion
07/22/2024: Wiz walks rejects $23 billion Google deal, will IPO
07/14/2024: Google Near $23 Billion Deal for Cybersecurity Startup Wiz
05/20/2024: Wiz Raises $1B In VC Funding, Passes On Lacework
Older news…
About Wiz
Wiz is a cloud cybersecurity company that partners with leading cloud service providers and systems integrators to help organizations build securely in the cloud.
Its core products analyze computing infrastructure hosted on various cloud platforms to identify and mitigate risks posed by external bad actors.
The company was founded in 2020 by Assaf Rappaport, Yinon Costica, Roy Reznik, and Ami Luttwak. The quartet previously served in an elite Israeli intelligence unit (similar to the NSA) and founded the security company Adallom.
Microsoft acquired Adallom in 2015.
The Wiz headquarters are in New York City, with offices in Tel Aviv, Israel; Arlington, Virginia; Austin, Texas; and Denver, Colorado.
Here’s an introduction video.
Ownership
Wiz is a late-stage venture-based startup. The equity ownership holders comprise of the founders, employees, and venture capital investment firms.
Prominent venture capital investors include Insight Partners, Sequoia, Blackstone, Index Ventures, Cyberstarts, Greenoaks, Salesforce Ventures, Andreessen Horowitz, Greylock, Thrive, Lightspeed Venture Partners, and former Starbucks CEO Howard Schultz.
Funding Rounds
| Round | Date | Est. Valuation | Raise Amount | Price |
|---|---|---|---|---|
| Series E | 05/06/24 | $12.00B | $1.00B | NA |
| Series D | 02/26/23 | $10.30B | $300.00M | $19.24 |
| Series C | 10/10/21 | $6.00B | $250.00M | NA |
| Series B | 03/22/21 | $1.70B | $130.00M | NA |
| Series A | 12/08/20 | $500.00M | $100.00M | NA |
| Seed Round | 01/31/20 | $21.00M | NA | |
| Source: Caplight |
Valuation
Bloomberg reported in late-September 2024 that it was planning a tender offer and potential fund raise at a $15-$20 billion valuation.
The latest confirmed Wiz valuation is $12 billion, based on the May 2024 Series E funding round that raised $1 billion.
It plans to use the proceeds to acquire cloud security companies in the next 18 months. However, it decided against the rumored acquisition of Lacework.
Monitor pre-IPO marketplaces such as Hiive for the latest share availability and pricing.
IPO Potential
The Wiz IPO date is currently unknown. On July 14th, 2024, the Wall Street Journal reported that Google (Alphabet) is in advanced talks to acquire Wiz for $23 billion.
However, a week later, Wiz walked away from the deal. Google floated so much money that Wiz had to take it seriously. But getting acquired was contrary to the founders’ vision for Wiz, having sold their previous company to Microsoft.
Now their back on track to IPO.
Wiz CEO Assaf Rappaport told Reuters in May 2024:
Eventually, our goal is to become a public company. [But there is] no pressure to go public and no need to raise more funds. So, we can time our IPO when we feel ready and when the markets are ready.
Reuters further reported that Wiz planned to stay private “for another year or two”.
Rappaport told the Wall Street Journal in the same Series E PR blitz:
Regarding a potential IPO, we are not rushing into it—we have previously indicated that we would move ahead once we reach $1 billion ARR. For now, we intend to continue innovating and providing maximum value to our customers.
Bookmark this page to follow along as we approach the Wiz IPO date.
How to Buy Wiz Stock
Wiz stock is not publicly traded today but may go public in the next year or two, according to its CEO. If ordinary investors can access pre-IPO now, there may be an opportunity to profit when the startup eventually goes public.
That said, most opportunities to invest in private companies Wiz pre-IPO require the investor to be accredited. Here are a few potential ways to acquire shares before, during, and after the eventual IPO.
1. Access shares via pre-IPO investing platforms
Ordinary investors can monitor pre-IPO marketplaces for Wiz shares before the IPO. Investors must be accredited to acquire direct shares.
A few platforms have evolved to allow equity owners to fund stock options or liquidate holdings before the IPO. The higher volume platforms include Hiive (view the latest listings), EquityZen, Forge Global, and Linqto.
Non-accredited investors can access pre-IPO companies via venture capital funds such as the Fundrise Innovation Fund (review). The fund holds companies such as ServiceTitan, Anthropic, and OpenAI.
However, Wiz is not a holding in the fund.
Check out our list of the best pre-IPO investing platforms for current platforms that may have shares available.
Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.
2. Participate in the Wiz IPO through a broker
A Wiz IPO is not expected for at least another 12 to 18 months.
However, when the company decides to go public, ordinary investors can position themselves to participate.
Since this company’s valuation is above $12 billion and intends to make more acquisitions in the next year, the eventual IPO could have a large number of shares available to retail investors.
Multiple brokers now offer the chance to invest in IPOs. Here are the most prominent:
Open accounts with the top brokers for IPO investing to give yourself the best chance to participate.
If your broker offers IPO access, join the email and text alerts for upcoming IPOs.
There are no guarantees you’ll receive shares, but shares may be worth pursuing some deals.
3. Buy Salesforce stock
Salesforce Ventures has invested in Wiz. Therefore, investors can buy Salesforce stock (Symbol: CRM) to gain a small amount of investment exposure to Wiz equity.
Indirect investment exposure is the simplest way to invest in pre-IPO companies, but it provides the least potential gains.
4. Buy the stock after the Wiz IPO
Most investors are not eligible to buy direct pre-IPO shares, and getting allocations for any IPO is challenging.
The best chance of owning Wiz stock is to wait for the IPO and buy it afterward. This is not the news most investors want to hear, but it’s the reality.
Often, IPO prices jump on the first day of trading, so it may make sense to wait a few quarters before owning the stock to let the price volatility settle.
You may find discounted opportunities to own Wiz stock months after the IPO. Rubrik, a similar company that IPO’d in 2024, saw its stock fall below the IPO price a few months after the IPO, giving patient investors an opportunity.
Watch for a direct listing IPO since the company is not expected to need to raise funds.
Frequently Asked Questions (FAQs)
Is Wiz publicly traded?
No. Wiz is not publicly traded.
What is the Wiz stock price?
Wiz is private, so there is no public Wiz stock price. Pre-IPO marketplace data suggests the May 2024 Series E funding round took place at around $22 per share. Monitor the Hiive marketplace for more recent price estimates.
What is the Wiz stock symbol?
There is no Wiz stock symbol yet because the company is private and has yet to file for an IPO.
However, “WIZ” is currently available. “WZ” is also available.
The Alpha Architect Merlyn.AI Bull-Rider Bear-Fighter ETF previously occupied the WIZ ticker until December 2023.
Wiz News Archive
05/07/2024: Wiz Raises $1 Billion on Path to IPO
05/07/2024: Cyber startup Wiz raises $1 bln in private funds
04/18/2024: Wiz in Talks to Acquire Lacework for $200 Million
02/27/2023: Wiz, now valued at $10B, raises $300M
10/11/2021: Celebrating Our Series C: Zero to $6 Billion in 18 Months
03/22/2021: Wiz becomes fastest growing security startup ever with new $1.7B valuation
Conclusion
You may be a Wiz customer or use the integrations at your job. When we discover excellent companies, our first instinct may be to learn how to invest.
That’s easy if the target company is publicly traded. However, private companies like Wiz are more challenging to own because their stocks trade privately, making them inaccessible to most ordinary investors.
Accredited investors can monitor pre-IPO platforms for available shares. Employees may leave prematurely and want to cash out of the shares, or equity may find its way to the private markets.
From researching this article, I’ve learned that a Wiz IPO is likely to occur in the next few years. The specific timing is unknown, but company leadership sold a previous business to Microsoft and intends to keep control of this company and lead it into the public markets.
The Rubrik IPO was not the success everyone had hoped for. But if more cloud or cybersecurity startups have successful IPOs, Wiz may opportunistically pursue a public offering to ride that success.
Monitor this webpage for the latest Wiz stock and IPO updates
* Disclosure: The web page contains affiliate links from our partners. If a reader opens an account or buys a service from a link in this article, we may be compensated. Opening an account with a broker that provides access to IPOs does not guarantee the customer allocations of specific IPOs. The author is long HOOD, and the Fundrise Innovation Fund.
Craig Stephens is a former IT professional who left his 19-year consulting career at the IRS to be a full-time finance writer. A DIY investor since 1995, he started Access IPOs in 2016 to provide a resource for ordinary investors pursuing access to IPOs. Craig studied Finance at Michigan State University and lives in Northern Virginia with his wife and three children. Learn more about Craig.
