Here’s why Google pitched its $32B Wiz acquisition as ‘multicloud’

Tuesday’s big news that Google is acquiring security startup Wiz for a record-breaking $32 billion comes with a very big qualifier. Google says it will position Wiz as a “multicloud” offering, meaning Wiz will not be a Google-only shop. The reality is that Google had no choice but to do this, and a closer look at the reasons behind the decision also highlights Google’s weak spots in the months ahead. Customer retention Wiz brings a massive customer list to Google. As of today, the startup has already reached an annual revenue rate of $700 million. Before the news broke on Tuesday, it was on track for that to grow to $1 billion. “Before the news broke” is the operative phrase here. Google and Wiz surely hope the acquisition will create an interesting new funnel of customers and revenue, but first and foremost, both will need to ensure they keep existing customers from shopping around for another security provider. Many of these customers already use a hybrid cloud arrangement and m ... Read full article.