Wiz Appoints New CFO to Lead IPO Preparations

Wiz, a rapidly expanding cybersecurity startup, has appointed Fazal Merchant as its new Chief Financial Officer (CFO) and President, signaling its intent to pursue an initial public offering (IPO).

Wall Street Journal

Founded in 2020, Wiz has experienced significant growth, recently achieving $350 million in Annual Recurring Revenue (ARR) and aiming for $1 billion in ARR before going public.

Calcalist Tech

Merchant brings a wealth of experience to Wiz, having previously served as co-CEO at cybersecurity firm Tanium and as CFO at DreamWorks Animation, where he played a pivotal role in its $3.8 billion sale to Comcast in 2016.

Wall Street Journal

This strategic hire comes after Wiz declined a $23 billion acquisition offer from Alphabet Inc. in July 2024, opting instead to remain independent and focus on an IPO.

The Verge

With Merchant at the financial helm, Wiz is poised to navigate the complexities of transitioning to a public company, further solidifying its position in the competitive cybersecurity market.