OnlyFans is reportedly in talks to raise new funding at a valuation above $1 billion, as it plots a move away from adult content to become more mainstream
OnlyFansis seeking fundingat a valuation of more than $1 billion, sources told Bloomberg.
- The site wants to focus on becoming mainstream and move away from adult content, one source said.
- It also wants celebrities and athletes to be able to connect with fans, the sources said.
Adult-entertainment site OnlyFans is reportedly in talks to raise new funding at a valuation of more than $1 billion, sources familiar with the matter told Bloomberg on Wednesday.The online platform, which charges users a subscription to view pictures and videos of celebrities, influencers, and adult-film stars, was teaming up with an advisor to bolster interest from investors, one of the sources told Bloomberg. The source wanted to remain anonymous because the talks were private.
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OnlyFans boomed during the pandemic - the number of users jumped to 120 million, from 20 million before coronavirus struck, and users spent $2.4 billion on the site in 2020. People joined the website as a way to earn money after losing their jobs in COVID-19 layoffs."Athletes are a creator genre we're seeing a lot of growth in," OnlyFans founder and CEO Tim Stokely said in a press release June 5, when Floyd "Money" Mayweather Jr. joined the site.
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