Peak OnlyFans? Platform In Talks To Sell 60% Stake
Following the Wall Street Journal's reporting last week, Bloomberg has provided additional color on OnlyFans' plan to sell a 60% stake in a deal valued at about $3.5 billion. The report is based on people familiar with the matter and has not been confirmed by the company.
OnlyFans owner Fenix International Ltd. is in "early talks" with San Francisco-based Architect Capital to sell a 60% stake worth about $3.5 billion. The proposed structure includes roughly $2 billion of debt and may take months to formalize.
Architect Capital describes itself as an asset manager focused on improving businesses where it sees opportunities to build stronger financial infrastructure. Given OnlyFans' heavy reliance on sexually explicit content, it remains unclear whether a shift away from sex creators is part of the video platform's longer-term vision under potential new ownership.
OnlyFans has explored sale options since last spring, including a prior effort that valued the business at nearly $8 billion, as owner Leonid Radvinsky looks to monetize after pandemic-era growth.
According to publicly available data, Ukrainian-American Leonid Radvinsky owns Fenix.
British filings showed that Radvinsky had paid himself at least $1 billion in dividends since buying OnlyFans in 2018.
Meanwhile, Americans spend billions annually on OF subscriptions.
Peak OF?
The Wall Street Journal reported last week that, in a presentation to investors, Architect Capital said it sees value in offering "services" to OnlyFans content creators. It's anyone's guess at what these services could be, whether financial infrastructure or creator tools...