Wingify Acquisition by Everstone
SaaS company Wingify is currently undergoing an acquisition by the private equity firm Everstone, as reported by sources familiar with the matter to Startup Superb. This acquisition is anticipated to be one of the most significant transactions within the SaaS industry and marks a major achievement for a startup that has functioned on a bootstrapped basis since its establishment.
TechCrunch was the first to announce this development, stating that the deal is expected to be valued at approximately $200 million.
About Wingify
Founded by Paras Chopra, Wingify provides Software as a Service (SaaS) solutions for online businesses, assisting them in enhancing their conversion rates through their unique tool, the Visual Website Optimizer (VWO).
- Annual recurring revenue has reached $50 million.
- Revenue from operations rose to Rs 288.61 crore in FY24, up from Rs 220.60 crore in FY23.
- Profit after tax increased by 30% year-on-year, amounting to Rs 61.04 crore.
Chopra’s Entrepreneurial Journey
In addition to Wingify, Chopra has co-founded two other ventures:
- VWO
- Nintee
Funded by Peak XV Partners, Kunal Shah, among others, Nintee was closed in April of the previous year, with the firm returning most of the capital it had attracted from investors.
According to Chopra’s LinkedIn profile, he has served as the founder and independent director of Turing’s Dream since April of the previous year.