[Update] Everstone Acquires Bootstrapped SaaS Major Wingify For $200 Mn

Update | January 24, 01:04 PM

Private equity firm Everstone has finalised a deal to acquire a majority stake in bootstrapped SaaS major Wingify for around $200 Mn. 

Wingify confirmed that cofounder Paras Chopra will continue to be a shareholder and remain on the board.

“I am confident that Sparsh and the Everstone team possess the expertise and vision to lead the business through its next phase of growth and success. I look forward to remaining involved as a shareholder and board member, providing guidance and support to ensure the company’s continued achievements,” Chopra said.

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Original| January 23, 08:10 PM 

Private equity firm Everstone is acquiring a majority stake in bootstrapped SaaS major Wingify for about $200 Mn. 

While cofounder Paras Chopra will exit the company, CEO and cofounder Sparsh Gupta would continue to hold a “significant” stake. He will also continue in his current role, sources familiar with the matter told Inc42. 

Founded in 2009 by Chopra, Wingify is a Delhi-based SaaS company which specialises in website optimisation.

Its flagship product is an A/B testing tool named Visual Website Optimizer (VWO), which helps organisations improve their conversion rates. 

Notably, A/B testing is a user experience research method that compares two or more versions of a variable to determine which is most effective. 

Most of the customers of the company are from outside India. 

Chopra, whose majority stake was acquired, was also the cofounder of Nintee. The startup, backed by Peak XV Partners, shut in April last year. 

According to his LinkedIn profile, Chopra is also a founder of Turing’s Dream, under which he’s running a 6-week AI residency for programmers in Bengaluru.

Chopra is currently also doing independent research in artificial general intelligence (AGI).