OnlyFans could be sold this year for a few billion
Fenix International Ltd is in talks to sell the platform to a group of investors for about $8 billion. They have been going on since at least March. OnlyFans is popular among porn content creators
OnlyFans owner Fenix International Ltd is in talks to sell the platform to a group of investors, Reuters reports, citing three sources.
The deal could be worth about $8 billion. According to the sources, the group is led by Forest Road Company, a Los Angeles-based investment firm.
The British streaming service OnlyFans is best known as a platform that allows pornographic content creators to charge subscribers. The service receives 20% of the content creators’ revenue. Its popularity skyrocketed during the COVID-19 pandemic.
For fiscal year 2023, the company’s revenue was $6.6 billion, up from $375 million in 2020, which attracted investors. For FY 2020, OnlyFans revenue grew more than 550%.
Content creators have earned more than $20 billion since 2016, since the platform was founded, Bloomberg reported last October.
Reuters’ sources told Reuters that Fenix International Ltd is also discussing a sale with other potential buyers.
The company’s sole shareholder is Leonid Radvinsky, a Ukrainian-American entrepreneur. He bought OnlyFans in 2018 and has paid himself at least $1 billion in dividends over the past three years, the agency said.
What's your reaction?
Excited
1
Happy
0
In Love
0
Not Sure
1
