In a landmark transaction that underscores the growing maturity of India’s software-as-a-service (SaaS) landscape, private equity firm Everstone Capital is set to acquire a majority stake in Wingify, a Delhi-based website optimization platform, for approximately $200 million. The deal, which signals strong investor confidence in Indian SaaS companies, will see co-founder Paras Chopra exit the company while CEO Sparsh Gupta retains a significant stake and continues in his current leadership role.
Founded in 2009, Wingify has carved a niche in the global digital optimization market with its flagship product, Visual Website Optimizer (VWO), an advanced A/B testing tool that helps organizations enhance their digital conversion rates. The company has distinguished itself by primarily serving an international customer base, a testament to the global scalability of Indian SaaS solutions.
The acquisition comes at a critical juncture for the Indian startup ecosystem, particularly in the SaaS domain. Wingify’s success story represents a compelling narrative of bootstrapped growth and strategic expansion. Unlike many startups that rely heavily on venture capital, the company has maintained a lean and efficient operational model, focusing on product innovation and customer satisfaction.
“This transaction validates the potential of product-led, bootstrapped SaaS companies in India,” said an industry analyst familiar with the deal. “Wingify’s journey demonstrates that with the right product and strategic approach, Indian startups can build globally competitive technology solutions.”
The deal holds significant implications for the Tamil Nadu startup ecosystem, signaling increased investor interest in product-driven technology companies. By showcasing a successful exit strategy for a bootstrapped SaaS platform, Wingify sets a promising precedent for emerging startups in the region, potentially attracting more private equity and venture capital investments.
Sparsh Gupta, who will continue to lead Wingify post-acquisition, emphasized the strategic alignment with Everstone Capital. “This partnership represents an exciting new chapter for our company,” he stated. “We see tremendous potential to accelerate our global growth and product innovation with Everstone’s support.”
Key statistics underscore Wingify’s impressive trajectory:
- Founded in 2009
- Primarily serves international markets
- Specializes in website optimization and A/B testing
- Bootstrapped until this $200 million acquisition
- Flagship product VWO used by organizations worldwide for conversion rate optimization
Paras Chopra, who is exiting the company, has already embarked on new ventures, including independent research in artificial general intelligence (AGI) and running an AI residency program for programmers in Bengaluru.
The acquisition not only represents a significant financial milestone but also highlights the evolving landscape of Indian technology startups. It demonstrates the increasing global competitiveness of Indian SaaS platforms and their ability to create substantial value through innovative, user-centric solutions.
