Ex Starbucks Boss Howard Schultz Invests In Cybersecurity Startup Wiz
Howard Schultz, the former chairman and chief executive officer of coffee chain giant Starbucks, has put a small part of his $5 billion+ fortune to buy a stake in a hot cybersecurity startup named Wiz.
Wiz is a cloud security startup founded by serial entrepreneurs that sold their previous cybersecurity startup named Adallom to Microsoft for a reported $320 million. Just a year-old, Wiz recently closed a $130 million funding round valuing it at $1.7 billion, a round that Howard Schultz participated in according to Bloomberg.
- Schultz’s participation in Wiz’s recent funding round wasn’t reported before. He joined others like Sequoia Capital, Insight Partners, and Greenoaks Capital in the round.
- Schultz has previously invested in other startups like Swedish plant-based milk maker Oatly and mental health care provider Lyra Health. With a fortune of over $5 billion, he can very much afford to invest in many startups without even worrying about recouping his investments.
- Wiz helps clients like United Airlines and The Home Depot to seek for potential risks in their cloud systems and act upon them if discovered. It’s based in Israel.
- With a $1.7 billion valuation after just a year of existence, Wiz is one of the fastest-growing cybersecurity startups in history.
- Howard Schultz built a fortune by growing Starbucks from a small coffee chain into a global powerhouse. He served as the company’s chairman and CEO from 1986 to 2000, and then again from 2008 to 2017.
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