OnlyFans Explores Selling Stock After Adult Content Lockdown Boom

OnlyFans, an online platform for sex workers, influencers and celebrities to sell subscription content, is looking to sell its shares to new investors.

According to a document submitted to Companies House this week, OnlyFans’ UK parent company Fenix ​​International has increased its stake from one million to one million.

A person close to the company said management was discussing whether to “extend ownership” and added that the overhaul of the capital structure gave it “the opportunity to do so”.

The British group’s popularity exploded during the blockade, annoying consumers logged on for entertainment, and inactive performers tried to make money, with less than 20 million people before the Covid-19 attack. Over 120 million users.

The platform allows content creators, from fitness instructors and musicians to erotic stars, to download music videos, posts and articles and sell them directly to fans for $ 5 to $ 50 per month. OnlyFans reduces transactions by 20%.

In April, when OnlyFans revealed a seven-fold increase in deals to £ 1.7bn, CEO Tim Stokely could be listed through an initial public offering or sale to a company. ad hoc acquisition. Please refrain from commenting.

OnlyFans said: “People approached me frequently… Someone familiar with the matter said on Wednesday that shareholders, including Leonid Radvinsky, the majority owner of the entrepreneur behind the MyFreeCams porn site, would sell the entire business . He added that he was not interested.

However, the current owners were planning to sell part of their shares, he said. “In addition to receiving dividends, existing owners want to realize part of their profits,” he added.

OnlyFans is a family business founded in 2016 by Stokely and his father, the former Barclays Guy investment banker. The company employs Tim’s brother Thomas as the COO.

Celebrities such as American rapper Cardi B and British rugby player Chris Robshaw recently joined the platform trying to monetize large numbers of social media followers. Fashion designer Rebecca Minkov launched an OnlyFans account this year to show off the scenes at New York Fashion Week.

Expecting more than £ 300million in pre-tax profit for the fiscal year ended in November, the company paid a dividend of £ 20million last year, centered on Radvinsky, who acquired the company in 2018.

The company says its main target audience is the United States, with particularly strong growth in Latin America and continental Europe. Income more than increased than sevenfold to £ 283.5million and pre-tax profits rose from £ 6million to £ 53million in the year through November, according to documents from the society.

The size and revenue growth suggests that if OnlyFans is released it could be valued at billions of pounds, making it one of the UK’s leading tech companies.

OnlyFans declined to comment.

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