How do you go from 8.3billion valuation to 200 mil?
All those ppl that got “equity” screwed
I don't know but I get the sense people didn't see it coming? https://www.teamblind.com/us/s/d5A0837a
The rumor was circulating for a while before any public post came up.
> How do you go from 8.3billion valuation to 200 mil? You go very fast
Layoff 1000s of your (meta in this case) employees. Let them get a job in growing startups. Wait for it... BOOM 💥
Bring in people who have no idea what they’re doing but are incapable of understanding that. Give them free reign with no accountability— you’ll break records too.
Who's that? Jay?
All of the execs
But primarily Jay
The valuation of 8.3 was potential. It’s normal for companies to be valued at 10X, 100X of their current revenue -provided that can scale and reach new customers in the TAM. The 200M offer is 2X current ARR which is a fair offer given that the current leadership hasn’t been able to make use of the resources provided and grow the company. This is no different than having your house valued at, say 1M, up from your purchase price of 700K but you don’t take care or it, or your neighborhood goes down in value and you get an offer of 500K. The offer is the current reality. LW can take it or attempt to grow revenue with the resources that they have left.
It cannot be 200m really. And in this case, it is not 200m really. You are not including 800m from bank going straight to investors. That makes the acquisition amount atleast a Billion
https://www.cfo.com/news/mastering-the-ipo-lacework-cfo-andrew-casey/714166/ it’s like this! Shows you how clueless the leaders are
This was very ugly. However CFO’s brand was the “IPO CFO” when they joined. So probably trying to preserve that brand. No acquiring companies need this CFO. So he will be gone should M&A occur. Will go to another company that wants to IPO. Maybe Vectra after their expensive exec hires?
Wiz doesn't have a CFO and they have an aggressive timeline for getting to IPO. It might make sense to acquire him but at this point Wiz can have any CFO they want so why him and not someone better?
Noice! IPO baby!
Welcome to tech. It's all bs