OnlyFans consents to sell Architect Capital a minority ownership
OnlyFans has agreed to sell a minority stake to investment firm Architect Capital in a deal that values the adult content platform at $3.15 billion, the Wall Street Journal reported.
San Francisco-based Architect will acquire a 16% stake in OnlyFans for $535 million, the WSJ reported, citing the terms of the agreement announced Friday.
Reuters reported in January that Architect was in exclusive talks with OnlyFans to acquire a nearly 60% stake in the adult website. Founded by James Sagan in 2020, Architect is a multi-strategy investment firm that invests in credit, private equity, venture capital, and structured capital globally.
One of the most prominent social media sites in the world, OnlyFans, saw a spike in users during the pandemic and is best known for enabling adult content producers to charge for subscriptions. Leonid Radvinsky, its reclusive millionaire owner, passed away from cancer in March at the age of 43.
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