Delhi-based SaaS startup Wingify has been acquired by Singapore-headquartered personal fairness agency Everstone for $200 million (INR 1,600 crore), injecting vital overseas capital into India’s financial system.
As debates flare over one more Indian startup being acquired by a world investor, Wingify founder Paras Chopra supplied 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 in a position to 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+ international locations, with notable purchasers similar to 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 purpose was to generate the identical quantity from his mission and guaranteed his mother and father that the enterprise would supply sufficient revenue 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 amount of cash from this mission,” stated Paras in a 2013 interview.
[Must Watch] Take a look at Paras Chopra’s unique interview with AIM under:
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 typically works higher than counting on heavy funding.
“INR 1,000 crore ka founder final result is usually higher than a multi-billion-dollar deal the place buyers stroll away with a lot of the cash,” he stated.
Paras shall be talking at India’s largest AI builders summit, MLDS 2025.
Register now!
What’s Subsequent?
Chopra, a machine studying professional and Delhi Faculty of Engineering graduate, has additionally based Turing’s Dream, an AI hack home in Bengaluru. He presents free cloud GPUs value $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 purposes targeted on “wrappers on current APIs” or these in search of co-founders.
The six-week residency program permits coders and researchers to work on their AI initiatives whereas turning 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.
Apparently, Chopra holds an instructional background in biotechnology, and this has stunned a number of of us on social media, given his success in pc science.
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