Delhi-based SaaS startup Wingify has been acquired by Singapore-headquartered personal fairness agency Everstone for $200 million (INR 1,600 crore), injecting vital international capital into India’s financial system.
As debates flare over one more Indian startup being acquired by a global investor, Wingify founder Paras Chopra provided a pointy response:
“Nope, plan to remain in India. Consider it this fashion: this deal was the explanation a major quantity of foreign exchange got here into India, and I used to be capable of contribute tax to the nation. I see no motive for bitterness.”
Wingify’s flagship product, Visible Web site Optimizer (VWO), powers 2,500+ manufacturers throughout 90+ nations, with notable purchasers resembling Ubisoft, Dominos, Goal, and eBay. The corporate’s FY24 income stood at INR 288.61 crore, up from INR 220.60 crore in FY23.
In March 2010, he left his job, the place he was incomes a wage of ₹50,000. His intention was to generate the identical quantity from his mission and guaranteed his mother and father that the enterprise would offer sufficient earnings for them to not fear.
“I used to be incomes about 50,000 rupees in wage from my job. I simply needed to get the identical sum of money from this mission,” stated Paras in a 2013 interview.
[Must Watch] Try Paras Chopra’s unique interview with AIM beneath:
Startup M&A Spree Begins!
Founder and CEO of Folks Group, and Shaadi.com, Anupam Mittal highlighted the latest developments within the Indian startup ecosystem, noting that “the funding winter appears to be ending, and M&A spring is formally right here.”
Referencing two acquisitions that occurred this week that included Wingfy and Minimalist that had been bought to HUL for INR 3000 crore, Mittal applauded the Indian founders.
“What’s actually inspiring is how the founders made it occur. Wingify was 100% founder-owned and bootstrapped—zero funding raised!” he shared on Linkedin. “Congrats Paras Chopra … all the time been impressed together with your braveness and focus to construct silently.”
Mittal stresses that constructing nice merchandise creates extra wealth than chasing excessive valuations, emphasizing “return on fairness > funding raised.” He advocates bootstrapping, noting that staying lean usually works higher than counting on heavy funding.
“INR 1,000 crore ka founder end result is usually higher than a multi-billion-dollar deal the place buyers stroll away with a lot of the cash,” he stated.
Paras might be talking at India’s greatest AI builders summit, MLDS 2025.
What’s Subsequent?
(Paras Chopra in his pure habitat–staying curious as all the time) | Photograph credit score: Amit Raja Naik
Chopra, a machine studying knowledgeable and Delhi Faculty of Engineering graduate, has additionally based Turing’s Dream, an AI hack home in Bengaluru. He gives free cloud GPUs price $2,500 per participant and connects them with AI researchers, friends, and buyers.
Turing’s Dream stands other than conventional AI accelerators or incubators like Folks+AI, explicitly discouraging functions centered on “wrappers on present APIs” or these in search of co-founders.
The six-week residency program permits coders and researchers to work on their AI initiatives whereas changing into a part of an unique neighborhood of previous and current residents, an AGI-focused community. “There aren’t sufficient communities for individuals who love AI for its personal sake,” stated Chopra in an earlier interview with AIM.
Curiously, Chopra holds an educational background in biotechnology, and this has shocked a number of of us on social media, given his success in pc science.
The put up “Nope, Plan to Keep in India,” Says Founder Who Offered His SaaS Startup to a World Agency for $200 Mn appeared first on AIM Media Home.