OnlyFans in Talks for $8B Sale to Forest Road-Led Investor Group Amid IPO Speculation

LONDON, UK – Fenix International Ltd, the parent company of OnlyFans, is reportedly in advanced discussions to sell the platform to an investor group led by Forest Road Company at a potential valuation of around $8 billion, according to sources familiar with the matter.

Forest Road, a Los Angeles-based investment firm, is spearheading the talks. While the identities of the other investors remain undisclosed, the negotiations have been ongoing since March, with a possible deal expected within weeks, the sources said.

OnlyFans, best known for allowing adult content creators to monetize subscriptions, saw its revenue skyrocket to $6.6 billion by the end of November 2023—up from $375 million in 2020. The company retains a 20% cut of creators’ earnings.

The company is also reportedly exploring other sale offers and a possible IPO, although no final decisions have been made.

Leonid Radvinsky, the site’s sole owner since 2018, has reportedly received over $1 billion in dividends in the last three years. While OnlyFans has proven financially lucrative, concerns around explicit content, including child exploitation and nonconsensual material, have deterred major financial institutions from partnering with the platform.

Forest Road executives were previously linked to an attempted SPAC merger with OnlyFans in 2022. Founded in 2017, Forest Road invests in media, clean energy, and digital assets.

Neither OnlyFans nor Forest Road has commented on the reported deal.