Onfolio Completes Development of Generative AI Search Tool

Rhea-AI Summary

Onfolio Holdings Inc. announces the launch of a generative AI search function for MightyDeals.com. The AI tool allows customers to use plain language to describe what they are looking to buy and instantly returns results based on their description. Onfolio expects higher user return rates, higher site interaction rates, and higher revenues at MightyDeals.com.

WILMINGTON, Del., May 26, 2023 (GLOBE NEWSWIRE) -- Onfolio Holdings Inc. (Nasdaq: ONFO, ONFOW) (the “Company” or “Onfolio”), a holding company that acquires and manages a diversified portfolio of online businesses announces the launch of a powerful generative AI search function for MightyDeals.com, one of its subsidiaries.

The team at Onfolio has been working hard to develop AI tools that can add value to each of our businesses. Onfolio’s AI is based on chatGPT-style Large Language Models, (LLMs)

By adding AI powered search on MightyDeals.com, customers can use plain language to describe what they are looking to buy. The AI tool is familiar with the context and description of hundreds of active deals on the mightydeals.com site and instantly returns results based on the searcher’s description.

The new AI search feature creates a better experience for the end user by speeding up the process of finding the best deal, even if they aren’t fully sure what they’re looking for.

With a better user experience facilitated by our new search AI feature, Onfolio expects higher user return rates, higher site interaction rates, and higher revenues at mightydeals.com

“Our new AI tool demonstrates that Onfolio is focused on delivering the best experience for our customers across all our subsidiaries,” said Dominic Wells, CEO of Onfolio Holdings Inc.

MightyDeals.com

Mighty Deals is a free daily deals website aimed at creative professionals with a focus on products and services for web designers and developers. The site offers amazing deals on quality fonts, templates, apps, add-ons, plug-ins, ebooks, icons, and more. The site provides discounts on packages which usually range between 50%-97% off but are only available for a limited time. MightyDeals.com boasts an exceptional return rate from its users and is one of Onfolio Holdings' highest revenue-generating subsidiaries.

Onfolio Holdings Inc.

Onfolio acquires and manages a diversified portfolio of online businesses across a broad range of verticals, each with a niche content focus and brand identity. Onfolio acquires firms that meet its investment criteria, being that such businesses operate in sectors with long-term growth opportunities, have positive and stable cash flows, face minimal threats of technological or competitive obsolescence, and can be managed by our existing team or have strong management teams largely in place. The Company excels at finding acquisition opportunities where the seller has not fully optimized their business, and Onfolio’s experience and skillset allow it to add increased value to these existing businesses. Visit www.onfolio.com for more information.

Safe Harbor Statement

The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words “may,” “will,” “should,” “plans,” “explores,” “expects,” “anticipates,” “continues,” “estimates,” “projects,” “intends,” and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing new customer offerings, changes in customer order patterns, changes in customer offering mix, continued success in technological advances and delivering technological innovations, delays due to issues with outsourced service providers, those events and factors described by us under the caption “Risk Factors” included in our SEC filings and other risks to which our Company is subject, and various other factors beyond the Company’s control.

Investor Contact

Core IR

Investors@Onfolio.com

FAQ

What is the name of the company that made this announcement?

The company that made this announcement is Onfolio Holdings Inc.

What is the new feature launched by Onfolio for MightyDeals.com?

Onfolio has launched a powerful generative AI search function for MightyDeals.com.

How does the AI search function work?

Customers can use plain language to describe what they are looking to buy, and the AI tool instantly returns results based on their description.

What are the expected benefits of the new AI search feature?

Onfolio expects higher user return rates, higher site interaction rates, and higher revenues at MightyDeals.com.

What type of website is MightyDeals.com?

MightyDeals.com is a free daily deals website aimed at creative professionals, offering discounts on quality fonts, templates, apps, add-ons, plug-ins, ebooks, icons, and more.

What is the return rate of MightyDeals.com?

MightyDeals.com boasts an exceptional return rate from its users.

What is the focus of Onfolio Holdings Inc.?

Onfolio Holdings Inc. acquires and manages a diversified portfolio of online businesses across various verticals.

What type of businesses does Onfolio acquire?

Onfolio acquires businesses that operate in sectors with long-term growth opportunities, have positive and stable cash flows, and can be managed by its existing team or have strong management teams in place.

What is Onfolio's strategy for adding value to acquired businesses?

Onfolio excels at finding acquisition opportunities where the seller has not fully optimized their business and adds increased value through its experience and skillset.