Everstone's Strategic Acquisition in the SaaS Sector

In a landmark deal, private equity firm Everstone has finalized an agreement to acquire a majority stake in Wingify, a pioneer in India's software-as-a-service (SaaS) landscape, for approximately $200 million. This move not only highlights Everstone's growing interest in the tech sector but also underscores the potential of Indian SaaS companies on the global stage.

Wingify: A Bootstrapped Success Story

Founded in 2010 by Paras Chopra and Sparsh Gupta, Wingify has emerged as one of India's earliest bootstrapped SaaS success stories. With its flagship product, VWO (Visual Website Optimizer), Wingify has enabled businesses worldwide to optimize website performance through innovative split and multivariate testing, driving significant improvements in sales and customer engagement.

Leadership and Future Directions

Post-acquisition, Sparsh Gupta will continue to lead Wingify as CEO, ensuring operational continuity. Meanwhile, Paras Chopra is set to focus on new ventures in AI, retaining a minority stake on the company's board. This strategic acquisition by Everstone not only marks a significant milestone for Wingify but also signals a broader shift towards investing in India's burgeoning tech sector, with SaaS companies at the forefront of this transformation.