Google acquires startup Wiz for $23 billion?

According to The New York Times, Wiz would be the largest acquisition in Google's history, if the acquisition is successful.

Google plays big, acquires tech startup worth $23 billion

Wiz was founded in March 2020, a startup that specializes in providing security solutions for businesses using cloud storage services, such as from Amazon Web Services.

In less than a year, the startup was valued at $1.7 billion and quickly received investments from companies including Salesforce, Blackstone, and Algae, making Wiz one of the fastest growing startups at the time.

Alphabet's talks to acquire Wiz come as the Biden administration is closely monitoring the expansion of tech companies.

Google itself is a defendant in a 2020 Justice Department lawsuit alleging monopoly. A ruling in the landmark, multi-year trial is expected later this year.

Not only that, Google is also one of the companies that the EU is "naming and shaming" for allegedly violating the Digital Markets Act. In March 2023, European authorities opened an investigation into the search giant, along with Apple and Meta Platforms.

The EU competition authority will investigate Alphabet’s practices in operating Google Play and its “self-preferencing” of Google Search. Apple is also being investigated for its management of the App Store and its Safari browser’s choice screen, while Meta will have to explain its “pay or take” model.

The trio of tech giants are the first to face a full-scale investigation into compliance with the DMA, a law designed to curb the dominance of “digital gatekeepers,” or large online platforms, which came into effect earlier this month.

Source: https://kinhtedothi.vn/google-thau-tom-startup-wiz-voi-gia-23-ty-usd.html