Foley & Lardner LLP partner Louis Lehot commented on cybersecurity startup Wiz’s decision to walk away from a potential sale to Alphabet and pursue an initial public offering in the Mergermarket article, “Wiz IPO plan could yield greater future rewards than Alphabet offer – sources.”
Lehot said that he believes Wiz CEO Assaf Rappaport is mission driven, viewing an IPO as the ultimate marker of success and one that cements legitimacy with customers.
“This is fantastic for its IPO story. Their name is out there, along with this valuation they rejected as being too low,” Lehot continued. “If I’m an IPO banker for Wiz, I’m licking my chops right now.”
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