OnlyFans owner exploring sale at $8-billion valuation

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OnlyFans Ltd. owner Leonid Radvinsky is exploring a sale of the adult-content social network that would value it at about $8 billion, according to a person familiar with the matter.

The London-based company, which hosts pornographic content forbidden on most other social networks, is reviewing a number of offers, the person said, asking not to be identified because the deliberations are private. The discussions are at an early stage and no final decisions have been made, the person said.

Any deal for the website — which makes money by taking a 20% fee on subscriptions and lets creators sell exclusive access to videos, pictures and chats — will have to overcome risks associated with hosting adult content. Reuters previously reported that a consortium led by investment firm Forest Road Company was exploring a bid.

OnlyFans has tapped trainers, comedians and singers to expand its offer and draw in new users. The company sought investment at a $1 billion valuation in 2021, people familiar with the matter said at the time.

An OnlyFans representative declined to comment. Radvinsky didn’t immediately respond to a request for comment.

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OnlyFans posted a profit of about $485.5 million in the year ending Nov. 30, 2023, up 20% from the previous year, holding company Fenix International Ltd. said in a report in September.

Owner Radvinsky has received more than $1 billion in dividends in the past three reported years, according to UK financial filings. He is the sole owner of Fenix.

Radvinsky bought a majority stake in OnlyFans in 2018 from its British father-and-son founders Guy and Tim Stokely, who started the site in 2016. Born in the Ukrainian port city of Odesa, Radvinsky’s family moved to Chicago when he was a child. He now lives in Florida, according to his website.