OnlyFans owner Leonid Radvinsky is considering selling the pornographic social network that serves as a digital pimp at a valuation of approximately $8 billion, according to sources familiar with the matter.
Bloomberg reports that OnlyFans, the London-based social media platform known for hosting pornographic content, is currently exploring a potential sale that could value the company at a staggering $8 billion. OnlyFans owner Leonid Radvinsky is reviewing several offers, but discussions are still in the early stages, and no final decisions have been made, according to a person familiar with the matter who asked to remain anonymous due to the private nature of the deliberations.
The social network, which allows creators to prostitute themselves by selling exclusive access to porn videos, pictures, and chats, has seen significant success by charging a 20 percent fee on subscriptions. However, any potential deal will have to navigate the risks associated with hosting adult content, which is a gray area on most other social media platforms.
Reuters previously reported that a consortium led by investment firm Forest Road Company was considering making a bid for the company. OnlyFans had sought investment at a $1 billion valuation in 2021, according to people familiar with the matter at the time.
In an effort to expand its user base and diversify its content, OnlyFans has recruited trainers, comedians, and singers to create content for the platform. The company has experienced substantial growth in recent years, with Fenix International, OnlyFans’ holding company, reporting a profit of approximately $485.5 million in the year ending November 30, 2023, representing a 20 percent increase from the previous year.
Leonid Radvinsky, the sole owner of Fenix, has received more than $1 billion in dividends over the past three reported years, according to UK financial filings. Radvinsky, who was born in the Ukraine and moved to Chicago with his family as a child, currently resides in Florida. He acquired a majority stake in OnlyFans in 2018 from its British father-and-son founders, Guy and Tim Stokely, who launched the site in 2016.
Breitbart News previously reported that OnlyFans prostitutes were turning to AI to chat with the lonely desperate men thinking they were connecting with their favorite porn star:
Wired reports that the rise of AI has brought about concerns regarding its potential to replace human workers across various industries. One niche occupation that is already experiencing disruption due to AI is the role of OnlyFans chatters. These gig workers are paid to impersonate top-earning OnlyFans creators in online conversations with their fans, providing a crucial element of relationship simulation that complements the platform’s pornographic content.
Traditionally, human chatters from countries with lower wage expectations, such as the Philippines, Pakistan, and India, have been employed to manage the deluge of amorous messages received by popular OnlyFans creators. Desperate men think they are talking to an OnlyFans prostitute when they are actually talking to a person sitting at a keyboard on the other side of the world. However, AI-generated stand-ins are increasingly replacing these human chatters, with several startups now offering access to AI chatbots and other generative AI tools tailored for this purpose.
Read more at Bloomberg here.
Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship.
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