OnlyFans In $8 Billion Sale Talks

OnlyFans, the adult content platform, is in talks to sell for $8 billion or go public amid massive growth and legal scrutiny.

OnlyFans, the adult content platform that became a household name during the COVID-19 pandemic, may soon be sold for a staggering $8 billion, as told in an exclusive report by Reuters.

Reuters received information from three anonymous sources that Fenix International Ltd. is conducting advanced negotiations with Forest Road Company’s Los Angeles-based investor group.

The company, which allows content creators to charge subscribers for explicit content, has seen explosive growth. Reuters reports that the UK filing shows that OnlyFans generated $6.6 billion in revenue during November 2023, after starting with $375 million in 2020. OnlyFans takes 20% of all revenue generated by creators.

Reuters notes that Forest Road is no stranger to OnlyFans. Some of its executives were previously involved in efforts to take the platform public through a special purpose acquisition company in 2022. The ongoing discussions about this deal have been active since March and insiders predict a possible agreement will emerge in the coming weeks but no official confirmation exists.

Reuters reports that Fenix maintains talks with multiple potential acquirers while exploring the possibility of an initial public offering (IPO). OnlyFans and Forest Road declined to comment to Reuters..

The sole owner of Fenix is Leonid Radvinsky, a Ukrainian-American who acquired OnlyFans in 2018. Public records show he’s collected over $1 billion in dividends over the past three years.

Despite its financial success, OnlyFans has faced serious criticism. A Reuters investigation from 2023 discovered multiple U.S. police and court cases that connected the platform to child sexual abuse content and sex trafficking. The company’s reputation has led traditional banks and investors to exercise caution in their investment decisions.

Founded in 2017, Forest Road invests in media, renewable energy, and digital assets. In 2024, it expanded by acquiring a majority stake in ACF Investment Bank.

Whether a sale goes through or not, OnlyFans’ future is closely tied to its controversial business model and public scrutiny.