Onfolio Holdings Inc. (NASDAQ: ONFO, ONFOW) is a diversified company that identifies established online businesses and acquires them. The company follows a business model that is not based on success in a particular niche, rather it focuses on certain verticals and mediums where content plays an important role. In a conversation with AlphaStreet, Onfolio’s CEO Dominic Wells spoke about the company and its operations.
First of all, please give a brief overview of Onfolio.
Onfolio is a leading online company that acquires, manages, and optimizes a diversified portfolio of digital companies. We help these companies maximize their potential by leveraging our team’s skillset and the latest tools and technologies. Our focus is on buying businesses in sectors with long-term growth opportunities, having positive and stable cash flow, facing minimal threats from competitors or emerging technology, and having strong management teams.
We currently operate in the following verticals: Pets, Arts & crafts, B2B SEO Services, Molecular Hydrogen Supplements, Computers, Graphic Design, and People Search. Since our launch in 2019, we have acquired 20 businesses including BWPS, Contentellect Limited, Might Deals, OutreachMama, All Things Dogs, and Woof Whiskers.
How significant is the recent launch of Get Quick, in the context of the widespread adoption of AI?
The launch of Get Quick, our new AI-driven tool to help website owners better understand and respond to Google Lighthouse page speed and SEO data, is significant for us as a second step into the AI development field after an earlier release we made in May. It’s also the first iteration of a full-suite SEO tool we are developing that will leverage AI to help automate a lot of the mundane SEO tasks performed by thousands of webmasters daily. So, it will ultimately lead to us generating revenue and improving our own AI development skills, which are going to be increasingly important across all industries moving forward.
How do you look at the present economic condition, in terms of its potential effects on the business?
Since we are diversified and operate several businesses, the economy affects us in numerous different ways. However, we view the present condition as an interesting opportunity because it makes it easier to acquire new companies for better terms, which could mean cheaper total prices or more favorable structures.
What are the main challenges that you anticipate when expanding the company?
We anticipate challenges to our ability to secure new funds for acquisitions, and from short-term headwinds some of our companies may face with growth.
Where do you see Onfolio five years from now?
Significantly larger in terms of total consolidated revenue and quantity of companies in our portfolio. We’ll also be a go-to destination for many entrepreneurs who wish to sell their businesses.