4.2 • 365 Ratings
🗓️ 15 July 2024
⏱️ 8 minutes
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0:00.0 | Hello and welcome back to Equity, Tech Crunch's flagship podcast about the business of startups. |
0:15.4 | Today is July 15, 2024. I'm Rebecca Belan, a senior reporter here at Tech Crunch and this is our Monday show |
0:21.9 | where we take a look at the weekend and get you ready for the week ahead. |
0:24.7 | On today's show we have Google's next acquisition, Open AIs, NDA's, |
0:30.0 | the AI Financial Results Paradox, |
0:32.6 | and what happened after Van Moof went Van Poof. |
0:35.6 | Let's get started. |
0:36.6 | First up, Google is reportedly in talks to acquire Wiz, a cloud security company, for around $23 billion. |
0:46.0 | The deal is not yet finalized, according to the Wall Street Journal, but it could come together soon. |
0:51.0 | So what exactly does Wiz offer? Well, the company provides an all-in-one approach to |
0:55.2 | cloud security, pulling data from Amazon Web Services, Microsoft Azure, Google Cloud, and other |
1:01.0 | cloud platforms, then scanning it all for security risk factors. |
1:05.2 | The deal comes just two months after Wiz raised a $1 billion series E at a $12 billion valuation. |
1:11.7 | So why this acquisition and why now? Well Google's |
1:14.5 | cloud business grew 28% to 9.57 billion dollars in the first quarter of this |
1:20.3 | year. So this buy could be a way for alphabet to fortify that business, particularly as |
1:25.3 | cyber hacks abound. Recall that last week AT&T confirmed it had been hacked in a breach |
1:30.4 | that was linked to a compromise from a different cloud data giant called Snowflick. |
1:35.0 | Snowflakes customers whose data was stolen also include Ticketmaster and Lending Tree subsidiary |
1:40.9 | Quote Wizard, among others. |
1:42.6 | Google's acquisition of whiz, if it happens, |
1:44.7 | would undoubtedly be good for business to keep customer cloud data safe, |
... |
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