Private Equity Company Everstone has acquired the majority of Wingify, one of India’s first boot strap SaaS success story, for about 200 million dollars.
The final decision of this week has shown an important departure of Wingify’s founder Paschopla, which has built a startup without raising external funds since its establishment in 2010.
Delhi -based Wingify has grown into a highly profitable global software provider with more than 6,000 clients from the two startups. The flagship product, Visual Web Site Optimizer (VWO), helps companies improve online conversion rates through the A/B test and customer experience optimization.
Startup annual revenue has recently reached $ 50 million.
CHOPRA, which owned 71 % of Wingify before the acquisition, said one of the sources that it would hold a minority of the company. Chopra confirmed a transaction including its value in a hacker news post.
In addition, Chopura, who stays at the company’s Board of Directors, states in a statement the day after the report on the report: Lead your business at the next stage of success. We are looking forward to continuing to be involved as a shareholder and board member, and provides guidance and support to ensure the continuous achievements of the company. “
Wingify provides services to more than 6,000 clients in 90 countries and compete with global players such as Optimizel and Bloomreach. Wingify product suite is set based on the visitor’s volume, and up to 50,000 visitors from the free layer will be an enterprise plan of $ 70,000.
The acquisition will be added to the growing technology portfolio of Everstone. Private equity companies are actively investing in Indian technology sectors and seeing highly profitable boot strap companies with global reach.
“Wingify is one of the very highly profitable software companies selection sets from India, which has a global major position,” said EVERSTONE CAPITAL’s management director, Sandeep Singh, on Friday. I mentioned it.
“This is the second important investment in the marketing technology in the past 18 months. We celebrate the journey of the founder, para, and Sparsch, and cooperate with Sparsh and his team at the next growth stage of Wingify. I’m looking forward to that. “
The story has been updated and a company statement has been added.