The Making Of A $500Mn SaaS Powerhouse: Inside Wingify’s Merger With AB Tasty

by · Inc42

SUMMARY

  • SaaS major Wingify is in a new era after being acquired by Everstone Capital and merging with Paris-based rival AB Tasty
  • Everstone has eschewed private equity’s typical efficiency-focused approach and appears to be satisfied with keeping Wingify on the same track
  • The question is whether Wingify can now successfully execute the merger and expand its capabilities at a time when AI is shaking up the SaaS industry
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India’s $14 Bn software-as-a-service (SaaS) market received a dramatic thrust in the last decade with the emergence of unicorns like Zoho and Freshworks. In the post-Covid era, factors like rising digitisation and advancement in AI have propelled the industry to scale $70 Bn in valuation by 2030. 

As the ecosystem grows in leaps and bounds, Wingify is fluttering its wings for the long haul with its flagship SaaS product Visual Website Optimizer (VWO), which enhances the digital journey by letting businesses assess the performance and improve conversion rates through websites. 

The first gush of winds beneath the wings came back in 2009, when Paras Chopra left his job to start building his own venture alongside Sparsh Gupta in Delhi. The company reached an annual recurring revenue of $1 Mn in 18 months. 

Wingify expanded its global presence over the years and breached $50 Mn in ARR despite staying bootstrapped until it blipped on the radar of Singapore-based private equity firm Everstone Capital. In January 2025, Everstone acquired Wingify for $200 Mn, leading to a lucrative exit for Chopra, while Gupta stayed on as CEO. 

Under Everstone, Wingify took a few turns. The company announced the first acquisition in its history in December 2025 when it struck an all-cash deal to take over AI user research platform Blitzllama for an undisclosed figure, and merged with French rival AB Tasty in late January. 

Inc42 spoke to CEO Gupta to decode how the merger brought strategic value to both companies and how Wingify’s trajectory has played out after being acquired by Everstone.