How Onnit went from lack of clarity to an acquisition
Onnit has become one of the top health and wellness brands in the world, transforming from a small startup to a mover and shaker in the space in just 10 years.
Onnit was looking at an acquisition, but found that they lacked the data that they needed in order to move further down that road.
As their CFO put it, “There’s some baseline historical data that we want and still don’t have. I can’t tell you how many alpha brains we have sold from 2010 to present. It would take me like 80 hours and I would get like 20 different answers.”
Praxis was able to help Onnit track down the historical data that they needed, aggregate it in one place, and then display it in a way that allowed them to tell their story to potential investors.
Onnit was able to tell their story to investors, and closed a deal with Unilever.
Their CFO had this to say about the acquisition:
“I'm not exaggerating when I say this but you guys... were incredibly helpful to me in terms of being able to create the reporting we needed to get thru due diligence. For that, thank you! You've been an incredible partner to me and Onnit.
Onnit got their data aggregated, automated, and presented in a format that appealed to investors.
Onnit was able to get their data together much faster than if they had to build out an internal team, allowing them to get acquired faster
