Cyber startup Wiz explores shares sale at up to $20 billion valuation, Bloomberg News reports

U.S.-Israeli cybersecurity startup Wiz is exploring a potential sale of existing shares at a valuation ranging from $15 billion to $20 billion, Bloomberg News reported on Tuesday.
The company is talking about a transaction that would let existing shareholders tender from $500 million to $700 million of their holdings, the report added, citing people familiar with the matter.
Earlier in July, Wiz ended talks with Google-parent Alphabet on a proposed $23 billion deal, a valuation that nearly doubled what the cybersecurity firm announced in May, when it raised $1 billion in a private funding round.
Venture firms involved in the potential deal include G Squared, Thrive Capital and Lightspeed Venture Partners, the report also said.
The company and the venture firms did not immediately respond to Reuters’ requests for comment.
Wiz provides cloud-based cybersecurity solutions that help companies identify and remove critical risks on cloud platforms, powered by artificial intelligence.