OnlyFans in talks to raise new funds and move away from adult content Business News

OnlyFans, an online platform where adult film actors, influencers and celebrities share video clips, photos and messages directly with subscribers for a monthly fee, is said to be seeking new funding from. a valuation greater than $ 1 billion.

According to Bloomberg, the British startup is working with an advisor who can help it broaden its pool of investors and leverage them to become a more mainstream media platform, moving away from its reputation as a place of search for pornography.

The website also wants to expand its celebrity base from adult movie stars to include a wide range of celebrities and athletes who connect with their fans using the platform.

Some of the most popular stars already on the platform include professional boxer Floyd Mayweather, England rugby player Chris Robshaw, rapper Cardi B and actor Bella Thorne. In fact, Thorne, who has an estimated net worth of between $ 5 million and $ 12 million, claimed to have made $ 2 million within days of joining the site in August 2020.

The website’s popularity has especially exploded during coronavirus shutdowns, pushing its user base from 20 million before the pandemic to over 120 million, the report reported. Financial Time.

“Once the pandemic hit and the strip clubs started closing, [OnlyFans] got so oversaturated because it was just every sex worker, or anyone in general, realizing that there was money to be made, ”said content creator Brooklyn Rose, as quoted by the Guardian.

Founded by Tim Stokely in 2016, OnlyFan allows creators to sell their videos, posts and articles to fans for a subscription price of between $ 5 and $ 50 per month, with the platform taking a 20% share of the payment made. .

With more and more celebrities and athletes joining the platform, OnlyFans aims not only to offer insight into the personal lives of the rich and famous, but also to attract new advertisers who would previously have been skeptical of its reputation for adult content.