Private equity firm Everstone has secured a deal to acquire a majority stake in Wingify, a leading Indian software-as-a-service company, for approximately $200 million, according to sources familiar with the matter. The acquisition marks a significant exit for Paras Chopra, the founder of Wingify, who built the company without external funding since its inception in 2010.
Based in Delhi, Wingify has evolved from a small startup into a global software provider with over 6,000 clients. Its main product, Visual Website Optimizer (VWO), helps businesses enhance online conversion rates through A/B testing and customer experience optimization. The company’s annualized revenue recently reached $50 million.
Chopra, who held 71% of Wingify before the deal, will retain a minority stake and continue to serve on the board. He expressed confidence in the expertise of Everstone and co-founder Sparsh Gupta in driving the company forward, while providing guidance in his new role as a shareholder and board member.
Wingify, which competes with global companies like Optimizely and Bloomreach, serves clients across 90 countries. The company offers a range of pricing plans, including a free tier for up to 50,000 visitors and enterprise options reaching $70,000.
This acquisition adds to Everstone’s expanding technology portfolio, which focuses on profitable, bootstrapped companies with global presence. Sandeep Singh, Managing Director of Everstone Capital, noted that Wingify is one of India’s leading profitable software companies, and they are excited to support its continued growth.
