Private equity giant Everstone has secured a majority stake in Wingify, a pioneering Indian software-as-a-service (SaaS) company, for approximately $200 million, according to three sources familiar with the matter who spoke to TechCrunch.
This acquisition represents a landmark exit for Paras Chopra, Wingify’s founder, who built the company into a global SaaS success without any external funding since its inception in 2010. Based in Delhi, Wingify has evolved from a modest two-person operation into a profitable business serving over 6,000 clients worldwide. Its flagship product, Visual Website Optimizer (VWO), enables businesses to enhance their online conversion rates through A/B testing and customer experience optimization.
The startup has reached an annual revenue run rate of $50 million, reflecting its consistent growth. Chopra, who held a 71% ownership in Wingify before the deal, will retain a minority stake, as confirmed by one of the sources. In a post on Hacker News, Chopra acknowledged the deal and its financial terms.
Speaking on the development, Chopra expressed confidence in the new leadership. “I am certain that Sparsh [Gupta, co-founder of Wingify] and the Everstone team have the expertise and vision to propel the business into its next chapter of success. As a shareholder and board member, I look forward to supporting the company’s ongoing growth and achievements,” Chopra stated.
Wingify’s product suite caters to over 6,000 clients across 90 countries, competing with established names like Optimizely and Bloomreach. Its pricing model ranges from a free tier for up to 50,000 visitors to enterprise-level plans costing up to $70,000, based on visitor volume.
The acquisition bolsters Everstone’s technology portfolio as the firm continues to expand its investments in India’s tech landscape, targeting profitable, bootstrapped companies with global reach.
“Wingify is one of a select few extremely successful Indian software companies that have attained worldwide prominence,” Everstone Capital Managing Director Sandeep Singh said in a statement. “This marks our second significant investment in the marketing technology space in 18 months. We commend Paras and Sparsh for their remarkable journey and are excited to collaborate with Sparsh and the team to drive Wingify’s next phase of growth.”
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