Good morning.
Maybe some dreams weren’t meant to die. Last week, Wiz CEO Assaf Rappaport sat on stage at the Fortune Brainstorm Tech conference amid rumors that Google parent Alphabet was about to buy his four-year-old cybersecurity startup for $23 billion. “If you asked any founder, definitely in the cyber space, two years ago, ‘Hey what’s your dream?'” he said. “I’m going to be unicorn, and then I’m going to become a public company” would have been the likely answer. But, he added, “the dream, a bit, has changed, and they’re seeing other options—and that pushes the market into consolidation.”
Or maybe not. On Monday, Rappaport sent a memo to employees, saying he’d turned down “offers we have received” and would instead pursue an IPO. Arriving on the eve of Alphabet’s earnings, the letter's timing suggested talks had continued up to the last minute.
