In a landmark deal for India’s SaaS ecosystem, private equity giant Everstone has acquired a majority stake in Wingify, one of the country’s most successful bootstrapped startups, for approximately $200 million.
This acquisition represents a major milestone for Wingify, which has grown into a global player in conversion rate optimization and A/B testing without any external funding since its founding in 2010.
Wingify, headquartered in Delhi, was established by Paras Chopra and has grown from a two-person operation into a profitable SaaS company with over 6,000 clients spanning 90 countries. Its flagship product, Visual Website Optimizer (VWO), empowers businesses to enhance their digital presence by leveraging advanced A/B testing and customer experience tools.
Under Chopra’s leadership, Wingify has consistently achieved remarkable growth, recently reporting an annualized revenue of $50 million. This success is particularly noteworthy as the company has remained bootstrapped throughout its journey, demonstrating the power of a strong product vision and business execution.
Paras Chopra, who held a 71% stake in Wingify before the acquisition, will retain a minority share in the company and continue to play a strategic role as a board member. Speaking about the transition, Chopra expressed confidence in Everstone’s ability to drive the company’s next phase of growth, saying, “I believe Sparsh [Gupta, co-founder of Wingify] and the Everstone team have the vision and expertise to propel the business forward. I look forward to supporting their journey as a shareholder and board member.”
The acquisition provides a significant exit for Chopra while ensuring Wingify remains poised for continued success under its new leadership structure.
With a customer base that includes over 6,000 businesses across industries, Wingify has positioned itself as a strong contender in the global SaaS market. Its products compete with established players like Optimizely and Bloomreach, offering flexible pricing options ranging from free plans for smaller businesses to enterprise solutions that cost up to $70,000.
Wingify’s ability to scale profitably while maintaining competitive pricing has made it a trusted partner for companies seeking to optimize their online presence and enhance user engagement.
For Everstone, the acquisition of Wingify aligns with its strategy to invest in high-growth, technology-driven companies. By leveraging its expertise in scaling businesses and accessing global markets, Everstone is expected to help Wingify expand its footprint and continue its upward trajectory.
This deal also underscores the growing appeal of India’s SaaS sector, which is increasingly recognized for its innovative solutions and global competitiveness.
The acquisition of Wingify by Everstone highlights the potential of bootstrapped startups to achieve global success. It serves as an inspiration for India’s burgeoning SaaS ecosystem, showcasing how a strong product and unwavering focus can lead to significant growth and recognition on the international stage.
With Everstone’s backing, Wingify is set to enter an exciting new chapter, continuing its journey of innovation while cementing its place as a leader in the SaaS space
