Cyber Firm WIZ Celebrates $32 Billion Google Exit with Lavish Thailand Vacation
Translated & summarized from Globes by baba
Cybersecurity firm WIZ celebrated its $32 billion sale to Google with a lavish five-day vacation for hundreds of Israeli employees in Thailand, costing an estimated 20 million shekels. The event included a performance by Katy Perry, which drew both praise and criticism online. WIZ has a history of extravagant employee celebrations, including past trips to Las Vegas and Mauritius and performances by various Israeli artists. In other news, venture capital firm F2 launched a podcast studio, and the ICPA aims to streamline business disputes through specialized arbitration.
The story in 5 lines · by baba
- Cybersecurity firm WIZ spent an estimated 20 million shekels on a Thailand vacation for employees after its $32 billion Google sale.
- Singer Katy Perry performed at the WIZ employee event in Thailand, drawing both praise and criticism online.
- WIZ has a history of lavish employee celebrations, including past trips to Las Vegas and Mauritius.
- Venture capital firm F2 invested hundreds of thousands of shekels to establish a professional podcast studio in Tel Aviv.
- The Institute of Certified Public Accountants will create a roster of expert arbitrators to expedite business disputes.
Cybersecurity firm WIZ recently flew its Israeli employees to a five-day vacation at a resort in Khao Lak, southern Thailand, to celebrate its $32 billion sale to Google. Hundreds of employees stayed at the Marriott Resort & Spa, which has approximately 280 rooms. The estimated cost of the vacation reached up to 20 million shekels ($5.4 million USD). The resort featured specially built sports and leisure facilities, including a stage, bridges, a branded 7-Eleven convenience store, and water sports equipment. The highlight was a party featuring American singer Katy Perry, whose performance and production reportedly cost between $1.5 million and $3 million. Perry faced online criticism for performing for an Israeli company whose founders are linked to Unit 8200 and for performing at a private event. She posted photos from the event on Instagram and Facebook, which garnered significant engagement, including both praise from Israelis and condemnation from pro-Palestinian accounts.
The WIZ acquisition by Google was finalized in March, but event planning took six months. Previously, WIZ employees celebrated the deal's approval with a trip to Las Vegas, featuring a performance by rapper Pitbull and a concept based on a fictional airline, WizAir. This trip occurred during Operation "Iron Swords" (Sh'agat Ha'arye), with employees flown out of Israel via neighboring countries.
WIZ has a history of hosting extravagant annual music events, with past performers in Israel including Ivri Lider, Ninet Tayeb, Ran Danker, Shiri Maimon, Sarit Hadad, and Eden Ben Zaken, for events themed around ABBA and Disney movies.
Separately, venture capital firm F2, managing over $550 million in assets, has invested hundreds of thousands of shekels to build a professional podcast studio at its Tel Aviv offices. The goal is to expand into content creation and reach new, younger audiences. The studio will be available to F2's portfolio companies and will collaborate with leading industry podcasts, including "Tzarot BaHigh-Tech" and "Popcorn," as well as a new podcast by entrepreneur Tom Livne.
The Institute of Certified Public Accountants (ICPA) plans to assemble a roster of arbitrators with expertise in various economic sectors to significantly shorten business disputes. ICPA President Chen Schreiber announced this at a recent business arbitration conference. Former Justice Minister Ayelet Shaked also spoke, advocating for increased use of business arbitration led by financial experts. Schreiber stated that while Israeli society has become increasingly litigious, accountants can lead financial arbitration with legal consultation when needed.
Energy storage company AGEERA has appointed Professor Teddy Lazebnik as VP of Applied AI and Michal Weiss Navon as VP of Corporate Development and Strategy. Gil Gorovitz has been appointed Marketing VP at real estate company ICR. Previously, Gorovitz served as Marketing and Customer Experience VP at Acro Real Estate and Marketing and Sales VP at Azorim.
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