By Steven Scheer
Tel Aviv, Jan 9 (Reuters) - Israeli Startup Wiz Said on Thursday It Had Named Veteran Executive Fazal Merchant as President and Chief Financial Officer to Keep Driving the Cloud Security Firm's Growth and Prepare for a U.S. Share Offering in About a Year's Time.
Wiz Last July Rebuffed a Reported $23 Billion Takeover Deal by Google-Parent Alphabet Googl.o That Would Have Made It the U.S. Tech Giant's Largest-Ever Acquisition. at the Time, Wiz CEO Assaf Rappaport Said the Company Would Focus on an Initial Public Offering and Its Goal of Achieving an Annual Recurring Revenue of $1 Billion.
Industry Sources Said Wiz Currently Has Annual Revenue of About $500 Million, as It Has Grown Substantially Since Its Founding in 2020 With Half of the Fortune 100 Companies as Its Customers.
(Reporting by Steven Scheer
Editing by Tomasz Janowski)
((Steven.scheer@Thomsonreuters.com; +972 2 632 2210; Reuters Messaging: Twitter: @Stevenmscheer))