[alephnerd]

Also depends on the trajectory of the late stage startup - especially with a number of the startups that raised during COVID.

A lot of FOMO investors in that time period made some not-so-great bets which lead to unrealistic valuations and then firesales.

Wiz's $80M ARR but $9B valuation def takes the icing on the cake. (Edit: Lacework, not Wiz - was a brainfart)

[toomuchtodo]

They just raised $1B at a $12B valuation, but that’s likely predicated on them going on an M&A spree to roll up less healthy competitors or offering compliments before they IPO, vs organic growth.

[alephnerd]

I brainfarted. I meant Lacework, not Wiz.

Wiz actually has an M&A strategy (Aqua is definetly on the table, as well as Tamnoon) seems to and some greenfield product development in progress.

Lacework on the other hand mismanaged a lot of hiring, and there were some shenanigans in the sales org.

Wiz actually has a healthy pipeline and execution, but Lacework never had that when they did their raise.

[toomuchtodo]

This is helpful, appreciate the context.