How does a fire sale fail due diligence? How little is Laceworks worth? GL to all the employees 🫡 https://www.calcalistech.com/ctechnews/article/hj3v0algc
Many companies are on cloud cost reduction mode from couple of years. Many has their own cloud security experts so all those third party cloud security/migration etc teams became irrelevant.
Feel sad for the employees
Where’s that Wiz guy who recently was defending this acquisition to be a smart move on Wiz end even though others indicate against. Either way, this is sad for Lacework employees. I know most of u have been already trying to leave the company. If not, u shud do it as a high priority.
I know lacework is struggling, but why is being acquired at such low price considered a better option?
You answered your own question. They don’t have much money left. Investors want payout now.
Jay Parikh left Meta to become the CEO like 2021? He recruited many of the VPs and Directors. The IC pool largely made up of meta and google. However, within a year or so a sizable number of high profile leaders left Laceworks again go rejoin Meta (or went on to another faang/startup). This company founded itself in one of the most crowded business product spaces lol
Only Eng was affected by a takeover of Metamates. VP of engineering, most directors and some managers. Most of our ICs were never from Google or Meta. This is something that recruiters were saying to attract more candidates from those places but it was never true.
Lacework just lost all their hope for sales with potential customers fearing the company will be acquired by an unknown suitor.
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Damnnn talk about a fall from grace