OnlyFans, the favored subscription-based platform for grownup content material, might be offered with a price ticket of round $8 billion.
Billionaire proprietor Leonid Radvinsky is in talks to promote the content material creator website to an investor group led by a US-based funding agency, Forest Street Co, based on a report by Reuters. Nevertheless, discussions to promote OnlyFans usually are not unique to Forest Street Co and the timeline for a deal is unclear, the report added.
Regardless of an $8 billion valuation, Radvinsky has been seeking to promote OnlyFans for a worth within the vary of $1.46 billion to $2.42 billion after having hassle discovering patrons because of the platform’s pornography-centric content material, based on a report by New York Submit.
OnlyFans was based by Tim Stokely in 2016 as a comparatively safer platform that prioritised creators of grownup content material. Radvinsky,who additionally based a cam website known as MyFreeCams, purchased OnlyFans from Stokely in 2018.
Since then, OnlyFans has witnessed a income progress of 2000 per cent because of its distinctive enterprise mannequin that doesn’t depend on promoting, in contrast to social media platforms like Fb and Instagram.
The platform requires customers to submit to an intensive ID verification course of with a purpose to create an account. OnlyFans has additionally stated it has taken sure steps reminiscent of constructing a intentionally hard-to-use search perform to make its platform protected for creators.
Registered customers are required to pay a subscription charge to view content material posted by OnlyFans creators, specific or in any other case. The corporate takes a 20 per cent lower from the charge and the remaining 80 per cent is paid out to OnlyFans creators.
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As of the tip of its 2023 fiscal yr, OnlyFans has 4.12 million creators and greater than 300 million registered customers. Its gross income touched 6.63 billion, up 19 per cent from the year-ago interval, and internet income rose by 20 per cent to $1.31 billion.
The corporate reported a pre-tax revenue of $658 million for fiscal 2023, with creator payouts amounting to a complete of $5.32 billion, as per regulatory filings. OnlyFans mum or dad firm is a London-based agency known as Fenix Worldwide which lists Radvinsky as the only shareholder.
In 2021, OnlyFans sparked intense backlash amongst content material creators after it introduced plans to ban pornography on the platform. Nevertheless, the corporate deserted these plans and stated it had “secured assurances essential to assist our various creator neighborhood.”
Since then, the corporate has been making efforts to maneuver away from adult-oriented content material by recruiting a number of non-porn content material creators and launching a safe-for-work free streaming service with authentic content material known as OFTV.
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