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Wingify’s VWO to merge with AB Tasty; Everstone to infuse fresh capital

EntrackrEntrackr · 5h ago
Wingify’s VWO to merge with AB Tasty; Everstone to infuse fresh capital
Medial

Wingify’s VWO to merge with AB Tasty; Everstone to infuse fresh capital Wingify’s VWO and AB Tasty have signed a definitive agreement to merge their businesses to create a scaled digital experience optimization platform with a strong presence in the US and Europe. According to a press release, the merger will result in a platform with over $100 million in annual recurring revenue and a customer base of more than 4,000 enterprises globally. Nearly 90% of the combined revenue will come from North America and Europe. The company will operate through 11 offices across the US, Europe, Latin America, and the Asia-Pacific region, with a focus on AI-led experimentation, personalization, analytics, and behavioural insights. Singapore-headquartered private equity firm Everstone Capital, which already holds a majority stake in VWO, is leading the transaction and will infuse additional capital to remain the largest institutional shareholder in the merged entity. The firm plans to support further product development and global expansion. The transaction follows a series of strategic moves at VWO and its parent, Wingify, over the past few years. In January 2025, Everstone announced plans to acquire a controlling stake in Wingify for about $200 million. The deal ranks among the largest private equity transactions in India’s SaaS space. Wingify, founded by Paras Chopra, has built a portfolio focused on experimentation and user experience tools. More recently, Wingify acquired AI-powered user research startup Blitzllama to expand into qualitative feedback and voice-of-customer capabilities. These additions strengthen VWO’s core experimentation offerings. On the financial front, Wingify reported a sharp decline of over 60% in profit in FY25, even as revenue rose 34% year-on-year. The results were driven by higher spending on technology, talent, and global expansion. The VWO–AB Tasty combination is expected to further consolidate Wingify’s position in the global digital optimization market.

Everstone to acquire Paras Chopra’s Wingify for $200 Mn

EntrackrEntrackr · 12m ago
Everstone to acquire Paras Chopra’s Wingify for $200 Mn
Medial

Everstone to acquire Paras Chopra’s Wingify for $200 Mn SaaS company Wingify is in the process of being acquired by private equity firm Everstone, according to sources familiar with the development told Entrackr. This acquisition is set to be one of the largest deals in the SaaS space and a significant milestone for a startup that has been bootstrapped since its inception. Sources indicate that Everstone is set to acquire a majority stake in the Delhi-based company. "Co-founder Paras Chopra will retain a minority stake in Wingify but will not have any operational role. Meanwhile, co-founder and CEO Sparsh Gupta will hold a significant stake and continue leading the company as chief executive officer (CEO)," said one source on condition of anonymity. TechCrunch, which reported the development first, said that the deal will be worth around $200 million. Entrackr has reached out to Chopra and Everstone for comments. Wingify offers SaaS solutions to online enterprises, supporting them in optimizing their conversion rates through their proprietary tool known as the Visual Website Optimizer (VWO). While Wingify has reached $50 million in annual recurring revenue, its revenue from operations increased to Rs 288.61 crore in FY24 from Rs 220.60 crore in FY23. The company’s profit after tax also increased 30% year-on-year to Rs 61.04 crore. Besides Wingify, Chopra also co-founded two startups: VWO and Nintee. Backed by Peak XV Partners, Kunal Shah, and others, Nintee was shut down in April last year, with the firm returning the majority of the capital it had raised from investors. According to Chopra’s LinkedIn profile, he has been the founder and independent director of Turing's Dream since April of last year. With a fund size exceeding $2 billion, Everstone focuses on the Indian and Southeast Asian markets. It has deployed capital in mid-market, control growth, and cross-border opportunities across sectors such as technology services, healthcare and pharma, consumer, financial services, and industrials.

Wingify acquires AI user research startup Blitzllama

EntrackrEntrackr · 1m ago
Wingify acquires AI user research startup Blitzllama
Medial

Wingify, the parent company of experimentation platform VWO, has acquired AI-powered user insights startup Blitzllama in an all-cash deal for an undisclosed amount. Founded in 2021, Blitzllama provides tools that help product and growth teams collect and analyse user feedback in real time. Its platform allows companies to gather in-product responses, review qualitative inputs from surveys and support interactions, and use AI models to summarise themes and sentiment across large datasets. Following the acquisition, Blitzllama’s capabilities will be integrated into the VWO platform. Existing Blitzllama customers will be migrated to VWO, with access to their data and ongoing support retained. Wingify said the integration will allow teams to connect behavioural data from experiments with direct user feedback, helping them understand not just what users do, but why they do it. Blitzllama was part of Y Combinator’s Winter 2022 batch and had raised early funding from 2am VC and other SaaS-focused investors. The startup worked with digital-first businesses across fintech and retail sectors. The deal comes as Wingify continues to scale its global SaaS business. The company reported that its annual recurring revenue is approaching $60 million (Rs 540 crore), driven largely by enterprise customers outside India. The development comes nearly a year after the acquisition of Wingify by Singapore-based private equity firm Everstone. While the impact of Wingify’s acquisition by Everstone will only be visible when the SaaS firm files its FY26 numbers, the company’s profit plunged more than 60% in FY25 due to an 88% increase in employee benefit costs. Its revenue grew 34% to Rs 386 crore during the last fiscal year.

Paras Chopra to launch advanced AI lab in India after $200 Mn exit

EntrackrEntrackr · 11m ago
Paras Chopra to launch advanced AI lab in India after $200 Mn exit
Medial

Paras Chopra to Launch Advanced AI Lab in India After $200 Mn Exit Indian entrepreneur Paras Chopra, who recently sold SaaS startup Wingify for $200 million, is now planning to set up a modern AI lab in India. Announcing the development on social media platform X, Chopra stated that he aims to create efficient reasoning models and advanced AI algorithms that can have a global impact. Chopra is assembling a team to prepare a proposal for India’s AI mission and is seeking technical experts to join, either full-time or part-time. However, he has not yet disclosed the name of his next venture. He believes that solving problems in complex domains is crucial for economic growth and that enhancing AI models capable of highly intelligent reasoning could help address some of the world’s most pressing challenges, such as poverty, cancer, and fundamental questions about the universe and human consciousness. Unlike large Western AI labs with massive budgets for GPUs, Chopra’s project will prioritize efficiency. The team will explore innovative methods such as reinforcement learning, distillation, pruning, and neuroscience-based approaches to improve AI performance using limited computational resources. This will mark Chopra’s third startup venture, following Wingify (VWO) and Nintee. While Wingify was acquired by Everstone, Nintee was shut down in April last year. The company, backed by Peak XV, Kunal Shah, and others, returned most of the capital it had raised from investors.

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