Everstone Group, an esteemed private equity firm, has secured a groundbreaking deal to seize a controlling stake in Wingify, an epitome of bootstrapped SaaS excellence in India, for nearly $200 million.
It’s a landmark exit for Wingify’s founder, Paras Chopra, who propelled the SaaS startup on the road to success with no external funding since 2010.
Stationed in Delhi, Wingify evolved from a humble startup of two to a profitable multinational software entity boasting over 6,000 clients. Their principal offering, the Visual Website Optimizer (VWO), offers businesses a means to elevate their online conversion rates using A/B testing and customer experience optimization.
Wingify’s annual revenue rate recently soared to $50 million. As part of the agreement, Chopra, who owned a majority 71% stake in Wingify prior to the buyout, will retain minor ownership in the firm.
With its robust clientele spread across 90 nations, Wingify stands tall alongside global competitors such as Optimizely and Bloomreach. With pricing based on visitor traffic, Wingify’s product offerings range from a free tier for 50,000 visitors to enterprise plans running up to $70,000.
For Everstone, this acquisition signifies another significant investment in their burgeoning technology portfolio. Always active in India’s technology sector, the private equity firm sees immense potential in profitable, self-financed companies with a global footprint.
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