Everstone To Buy Paras Chopra’s Wingify For $200 Million

Everstone, a private equity firm, has bought a big part of Wingify, one of India’s first strong bootstrapped SaaS (Software as a Service) firms, in a deal that is worth about $200 million. This deal is a big step for Paras Chopra, who began Wingify in 2010 with no outside money.

Wingify’s path to success

Wingify, based in Delhi, began with just two people. It has grown into a money-making global software firm with over 6,000 clients. Its main tool, Visual Website Optimizer (VWO), helps firms improve their online sales by giving them tools for A/B testing and better customer experience. Wingify’s yearly revenue has now hit a great $50 million.

Chopra’s shift and new role

Before the deal, Chopra owned 71% of Wingify. Now, he will give up the main part but will keep a small share and stay part of Wingify as a board member. He shared the deal’s value and other points, showing faith in what lies ahead for the firm under Sparsh Gupta, Wingify’s co-founder.

Chopra said:
“I trust that Sparsh and the Everstone group have the skill and clear view to guide the firm into its next stage of success. I am eager to stay part of the team as a shareholder and board member, helping and guiding to ensure the firm keeps winning.”

Global influence and rivals

Wingify has clients in 90 places and goes against big names like Optimizely and Bloomreach. The company offers plans based on visitor numbers, starting with a free plan for up to 50,000 visitors and going up to enterprise plans that cost as much as $70,000.

Everstone’s growing tech range

By buying Wingify, Everstone boosts its growing tech portfolio. The firm has been keen on investing in strong, bootstrapped Indian firms that have reached all around the world.

Sandeep Singh, managing director of Everstone Capital, said:
“Wingify is one of a few very profitable software firms from India that has made a strong name globally. This is our second big buy in the marketing tech world in the last 18 months. We want to thank the founders, Paras and Sparsh, for their great work and look forward to helping Sparsh and his team in the next stage of growth at Wingify.”