Private Equity Everstone acquires the majority of shares in LardOne of the first Indian stories about Saas’s success, for about $ 200 million, three sources familiar with this case said TechCrunch.
The agreement, finalized this week, is a significant way out for the founding father of Wingifa Paras Chopra, who built a startup without collecting external financing since its in 2010.
Delhi’s Wongify has grown from a double startup to a profitable global software supplier from over 6,000 customers. Its flagship product, visual optimizer (VWO), helps corporations improve their online conversion indicators by testing A/B and customer support optimization.
The annual startup revenues have recently affected $ 50 million.
Chopra, who owned the 71% wing before taking on, will keep the minority in the company, as one of the sources said. Chopra confirmed the contract, including its value, in Post on Hacker News.
Chopra, who will even remain on the board of the company, said in a statement the day after the publication of the report: “I am sure that Sparsh [Gupta, co-founder of Wingify] The Everstone team has knowledge and vision to conduct activities in the next phase of success. I am looking forward to the involvement of a shareholder and a member of the management board, providing guidelines and support to ensure further achievements of the company. “
Wongify serves over 6,000 customers in 90 countries, competing with global players, akin to Optimizes and Bloomreach. The certainty of Wingifa products is valued on the basis of guests’ volume, from a free level for a maximum of fifty,000 visitors to enterprise plans costing USD 70,000.
The takeover increases the growing portfolio of Everstone technology. Private Equity is actively investing in the technology sector in India, seeing opportunities in profitable corporations released with global range.
“Wongify is one of the selected sets of highly profitable programming companies coming out of India, which carved a leading position around the world,” said Sandeep Singh, managing director of Evertone Capital, in a statement on Friday.
“This is our second significant investment in marketing technology space over the past 18 months. Congratulations to the founders, umbrellas and Sparsh, on their journey and we are waiting for cooperation with Sparsh and his team in the next phase of Wongify’s growth. “