London-based subscription platform OnlyFans is reportedly negotiating the sale of a 60% stake to California personal fairness agency Architect Capital.
Abstract
- OnlyFans is reportedly promoting a 60% stake.
- Fenix Worldwide, OnlyFans’ mother or father firm, invested about $19.9 million in Ethereum throughout 2021–2022.
- By November 2022, falling crypto costs prompted an $8.45 million impairment; whether or not the corporate nonetheless holds the belongings stays to be seen.
In keeping with the Wall Road Journal, the deal may worth the corporate, identified for its X-rated content material, at $3.5 billion, or $5.5 billion together with debt.
Architect Capital, which makes a speciality of restructuring complicated companies, goals to enhance cost methods for under-banked creators, a lot of whom face limitations as a result of adult-themed content material.
Present majority proprietor Leo Radvinsky, who acquired OnlyFans from founders Tim and Man Stokley in 2018, has tried to pivot the platform towards a social-media-style expertise whereas nonetheless producing income.
Monetary filings present Radvinsky has acquired almost $1 billion in dividends over two years.
Radvinsky started exploring provides to promote the platform final yr for round $8 billion.
OnlyFans continues to be extremely worthwhile, with annual internet income close to $1.6 billion, and Architect Capital envisions a public itemizing by 2028. The sale stays speculative, with negotiations ongoing and no contract finalized.
Ethereum holdings
OnlyFans’ mother or father firm, Fenix Worldwide, invested roughly $19.9 million in Ethereum throughout 2021–2022.
By November 30, 2022, declining crypto costs had prompted an $8.45 million impairment, lowering the holdings’ reported worth to $11.4 million, although the corporate nonetheless retained the belongings with no acknowledged restrictions on promoting.
Fenix has beforehand explored Ethereum-based NFTs for profile footage, signaling ongoing curiosity in crypto regardless of its volatility.
No updates affirm whether or not the corporate bought or continued holding its Ethereum via to 2025, when the market turned bearish.
