Everstone Private Stock Company acquires a majority FlapOne of India’s first SAAS success stories for about $ 200 million, three sources familiar with the issue told TechCrunch.
The deal, completed this week, marks a significant exit for the founder of Wingify Paras Chopra, who created the start without increasing external funding since its founding in 2010.
Delhi -based Wingify has been developed by a two -person launch in a profitable global software provider with more than 6,000 customers. Its flagship product, Visual Website Optimizer (VWO), helps businesses improve their conversion rates through A/B and optimizing customer experience.
The annual start -up revenue recently reached $ 50 million.
Chopra, who owned 71% of Wingify before acquiring, will maintain a minority in the business, one of the sources said. Chopra confirmed the agreement, including its value, in A post on Hacker News.
Chopra, who will also remain on the company’s board of directors, said in a statement a day after the report was published: “I am sure Sparsh [Gupta, co-founder of Wingify] And the EVERSTONE team has the know -how and vision to drive the business through the next phase of success. I am looking forward to remaining a shareholder and member of the Board of Directors, providing guidance and support to ensure the continued achievements of the company. ”
Wingify serves more than 6,000 customers in 90 countries, competing with world players such as Optimizly and Bloomreach. Wingify’s product suite is priced based on the volume of visitors, ranging from a free grade for up to 50,000 visitors to business plans that cost $ 70,000.
The acquisition adds to the increasing EVERSTONE technological portfolio. The Private Shares Company is actively investing in India’s technology, seeing the opportunity in profitable, launched companies with a worldwide range.
“Wingify is among a selected set of extremely profitable India -emerging software companies, which have set a leading position worldwide,” said Sandeep Singh, Managing Director of Everstone Capital, in a statement on Friday.
“It is our second major investment in the field of Marketing Technology for the past 18 months. We congratulate the founders, Paras and Sparsh, on their journey and look forward to working with Sparsh and his team in the next Wingify Development Phase.”
The story was informed to add companies’ statements.
