OnlyFans — the large grownup creator community the place performers and influencers promote subscription-based content material instantly to followers — is contemplating promoting a majority stake of its enterprise to funding agency Architect Capital, a supply shut to the deal informed TechCrunch. The deal would worth the platform at $5.5 billion.
The supply stated that of that $5.5 billion, $3.5 billion could be fairness and $2 billion could be debt. Below these phrases, Architect would assume a 60% stake in the enterprise. The 2 events are in exclusivity, which means that OnlyFans is barred from negotiating with different potential patrons for a set time frame. It’s unclear what the timeline for finishing the deal may be. The negotiations have been previously reported by The Wall Road Journal.
TechCrunch reached out to Architect Capital for remark.
This isn’t the first time in current reminiscence that OnlyFans has been in talks to dump its enterprise. Final yr, the New York Submit reported that Leonid Radvinsky, the billionaire proprietor of the website, was trying to “money out,” and was courting potential patrons. Subsequent reporting confirmed that the platform’s mum or dad firm, Fenix Worldwide Ltd., was in talks with a U.S.-based investor group led by the Los Angeles-based funding agency Forest Highway Firm. It’s unclear what occurred to these discussions, though the supply informed TechCrunch that there had been quite a few events since OnlyFans introduced its want to promote a majority stake.
The potential enterprise accomplice on this explicit deal, Architect, launched in 2021 as an asset-based lender — a agency that gives loans secured by firm belongings — that appears to accomplice with early-stage startups.
OnlyFans maintains that it’s not a pornography web site, regardless of the reality {that a} majority of the creators on it produce grownup content material. A British agency, the website was based in 2016 by Tim Stokely, who additionally initially served as its CEO. Stokely sold a majority stake of the website’s mum or dad firm, Fenix Worldwide, to Radvinsky in 2018. Over the years, it has suffered from quite a lot of legal controversies, including lawsuits accusing the website of profiting off of abusive movies.
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