OnlyFans owner in talks to sell to investor group at about $8 billion

Reuters has learned that OnlyFans‘ parent company, Fenix International, is in advanced talks to sell the platform to a group of investors led by the American company Forest Road Company. The deal, which is still confidential, would value OnlyFans at approximately $8 billion, according to three people with knowledge of the situation. This is the first time that the amount and the name of the potential buyer have been made public.

Launched in 2016, OnlyFans allows content creators, predominantly pornographic content, to generate cash through a subscription system. The site takes 20% of the money collected. The pandemic has propelled this strategy, which has enabled its revenue to soar: from $375 million in 2020 to $6.6 billion for the fiscal year ending in November 2023.

However, three sources with knowledge of the situation, who were quoted by Reuters, stated that an IPO is still possible. Leonid Radvinsky, an American-Ukrainian businessman, purchased OnlyFans in 2018. According to UK financial records, he has since distributed more than $1 billion in dividends to himself. We don’t know where he is now.

Even though OnlyFans is profitable, its reputation is tainted. Several Reuters investigations have revealed complaints in the US about child pornography, videos posted without consent, and cases of sex trafficking. These allegations are cooling some investors, who are concerned about legal and reputational risks.