Singapore's Everstone Acquires Delhi-based Wingify for ~ $200 Mn

Everstone Capital, a private equity firm headquartered in Singapore, has acquired a majority stake in Wingify, an Indian SaaS company, for approximately $200 million, reported TechCrunch.com

Wingify, founded by Paras Chopra and Sparsh Gupta in 2010, is known for its flagship product, Visual Website Optimizer (VWO), which helps businesses improve their online conversion rates through A/B testing and customer experience optimization.

This acquisition marks a significant milestone for Wingify, which has grown from a two-person startup into a profitable global software provider with over 6,000 clients across 90 countries.

Paras Chopra, owned 71% of the company before the acquisition. He will retain a minority stake and continue to be involved as a board member.

Sparsh Gupta, Sparsh Gupta, who joined Wingify as CEO in 2018, will continue as CEO, while Paras Chopra will retain a minority stake and remain on the board.

Wingify's annualized revenue runrate recently touched $50 million, and its operating scale surged by 30.8% in the fiscal year 2024. Wingify has a global market presence, with clients in the US, Canada, Europe, Australia, Germany, and the Netherlands.

This acquisition highlights Everstone's growing focus on India's technology sector, particularly profitable, bootstrapped companies with global reach. It also underscores the increasing appeal of Indian SaaS firms to global investors.