Reuters: OnlyFans owner in talks to sell platform for $8 billion
The owner of the online platform OnlyFans, Fenix International, is in talks to sell the service to an investment group led by the American firm Forest Road Company for about $8 billion. Reuters reports this, citing informed sources.
The investors who are part of this group are not currently being disclosed.
OnlyFans, which has seen a surge in popularity during the COVID-19 pandemic, allows creators of intimate content to charge subscribers for views or subscriptions. The platform takes 20% of creators' earnings.
For the fiscal year ending November 2023, OnlyFans generated $6.6 billion in revenue. For comparison, in 2020, this figure was only $375 million. Such growth dynamics have aroused interest among investors.
According to the agency's sources, negotiations on a potential sale have been ongoing since at least March, and a deal could be concluded in the coming weeks. However, a final decision has not yet been made.
Among the options for the company's future is also considering an IPO (public offering of shares).
The sole shareholder of Fenix International is Leonid Radvinsky, an American of Ukrainian descent. He acquired OnlyFans in 2018 and, according to British reports, has paid himself at least $1 billion in dividends over the past three years.
Founded in 2017, Forest Road Company is an investment firm with interests in media, renewable energy, and digital assets, as stated on its website.
Its projects include a Formula E racing team and the recent acquisition of investment bank ACF.
- On September 11, 2024, Hetmantsev reported that the sphere of creation of paid content on the OnlyFans internet platform by citizens of Ukraine is growing rapidly. The number of accounts increases on average three times every year.
- On October 12, it became known that the OnlyFans service had paid out over $20 billion to its content creators since 2016. At that time, the platform had over 4 million creators.
- Ukrainian models earned $123 million on OnlyFans in three years.