DelightRoom, the company behind the Alarmy mobile application, announced the acquisition of Noji, a profitable flashcard and spaced-repetition learning platform generating approximately $4 million in annual recurring revenue.
Financial terms of the transaction were not disclosed, although the companies said the deal includes upfront cash payments and earn-out components.
The acquisition was completed through DelightHub, DelightRoom’s mergers and acquisitions division focused on acquiring and scaling consumer mobile applications.
Founded in December 2020 without outside funding, Noji has grown to more than 6 million lifetime users, over 100,000 active subscribers, and approximately $4 million in annual recurring revenue.
The app recorded 2.5 million installs over the past 12 months and generates more than 20% of its revenue through web-based usage, reflecting its cross-platform study workflow.
Noji was founded by Andrew Bondarenko, Maksim Abramchuk, and Danil Gontovnik.
DelightRoom said it plans to continue investing in Noji’s product development while expanding the application’s presence in markets including Japan and Brazil.
The acquisition adds to DelightRoom’s broader consumer application portfolio, which includes Alarmy, a mobile alarm application with more than 110 million downloads and 4 million daily active users, along with DARO, its ad monetization platform for mobile developers.
According to the company, DelightHub is designed to provide acquisition opportunities and operational scaling support for profitable consumer application businesses without requiring venture capital-backed growth models.
The transaction was advised by EHVM Apps Capital, an M&A advisory firm specializing in mobile application and gaming sector transactions.
KEY QUOTES:
“DelightRoom understands consumer apps from the inside, and we’re excited to join forces through DelightHub.”
“For Noji’s users, that means continued investment in a product they already pay for.”
“For us, it’s the clean exit we wanted after five years of bootstrapping.”
Danil Gontovnik, Co-Founder, Noji
“Noji is exactly the kind of product we look for, strong product-market fit, efficient organic growth, and clear monetization potential.”
“Our goal is to preserve what makes it great, while scaling it significantly using our playbook across product, monetization, and acquisition.”
Jay Shin, CEO, DelightRoom And DelightHub
