Onfolio Holdings ^{Priced, Nasdaq: ONFO}

We acquire controlling interests in and actively manage small websites with a focus on useful content. We characterize small websites as those that generate annual cash flows of up to $5 million per year. We believe that the acquisition market for these websites is highly fragmented and often provides opportunities to purchase at more attractive prices and achieve better outcomes for our shareholders. Our management strategy involves a combination of sharing resources across websites and employing dedicated managers of individual websites. We give a lot of autonomy to our individual managers, supporting them where necessary, but otherwise allowing them the freedom to grow the websites in line with their goals and responsibilities. As of the date of this prospectus, we own and/or manage 18 websites.