Jobaaj Stories
Private equity firm Everstone has acquired a majority stake in Wingify, a leading Indian software-as-a-service (SaaS) company, for $200 million. Wingify, founded in 2010 by Paras Chopra and Sparsh Gupta, is renowned for its flagship product, VWO (Visual Website Optimizer), which helps businesses optimize website performance, improve sales, and enhance customer experiences through data-driven decision-making.
A Success Story in Indian SaaS
Wingify, based in New Delhi, is one of India’s earliest bootstrapped SaaS success stories. Unlike many startups, it scaled globally without relying on external funding, earning a reputation as a pioneer in the SaaS space. The company specializes in tools for split and multivariate testing, enabling businesses to design and implement effective strategies for websites and apps.
Everstone’s Focus on SaaS Growth
The acquisition signals Everstone’s growing interest in India’s booming SaaS sector, which analysts estimate will generate $50 billion in annual revenue by 2030. While Everstone has historically focused on consumer brands like Burger King India and financial services firms like Indostar Capital, this deal highlights its strategic pivot towards technology investments.
Leadership Continuity
Sparsh Gupta will continue as CEO of Wingify, ensuring smooth operations post-acquisition. Paras Chopra, who previously held a 71% equity stake in the company, will retain a minority share and remain on the board. Chopra has been gradually stepping away from active involvement in Wingify and is expected to focus on new ventures, particularly in artificial intelligence.
Industry Impact
This acquisition underscores the rising global appeal of Indian SaaS firms, recognized for their ability to address business challenges at scale. By acquiring Wingify, Everstone reinforces its commitment to supporting tech-driven innovation in India’s fast-evolving software landscape.
Both Everstone and Paras Chopra declined to comment on the deal, but the move marks a significant milestone for Wingify and reflects the broader momentum in India’s SaaS ecosystem.
