Onfolio acquires RevenueZen business for $1.105M

Onfolio Holdings has closed on an asset purchase agreement with RevenueZen, whereby the Company’s subsidiary RevenueZen LLC, acquired substantially all of RevenueZen’s business assets for a total purchase price of $1,105,000, consisting of $240,000 in cash at closing, $425,000 in Onfolio Series A Preferred Shares, and a $440,000 11% secured promissory note due December 31, 2025. In addition, five RevenueZen founders received a total of a 12% roll-over equity interest from RevenueZen Delaware, and they will serve in leadership roles with RevenueZen Delaware team. Also, certain of the founders received a total of 270,000 non-qualified stock options to purchase Onfolio common shares at $0.51 per share. RevenueZen was launched in 2017 and began as a B2B marketing agency. RevenueZen offers B2B marketing services such as search-engine optimization, Linkedin marketing and content marketing. RevenueZen enjoys a strong reputation in its field, as demonstrated by its own high search engine rankings where it ranks first in Google for terms such as “B2B SEO services”. In 2023, RevenueZen had around $1.4m in revenue and $227,000 in unaudited adjusted EBITDA. The company said, “In addition, RevenueZen currently outsources some of its work to competitors of some Onfolio portfolio companies. By switching this spend to our own companies, we believe RevenueZen will bring an additional $150k/year to our bottom line along with the $227k above.”