Ukrainian-American Leonid Radvinsky, the sole owner of the popular online service OnlyFans, is in talks to sell the company to an investment group led by Forest Road Company at a valuation of about USD 8 billion, Reuters reported, citing three unnamed sources familiar with the matter.
Fenix International Ltd, the parent company of OnlyFans, is considering an offer from an investment group led by Los Angeles-based investment firm Forest Road Company. Negotiations have been ongoing since at least March of this year, and a deal could be reached within the next one to two weeks. Although sources caution that there are currently no guarantees of a successful completion of the deal.
Radvinsky acquired OnlyFans in 2018 and, according to official documents, has paid himself dividends worth at least USD 1 billion over the past three years.
The company’s financials show impressive growth: revenue increased from USD 375 million in 2020 to USD 6.6 billion in 2023. This rapid growth has attracted the attention of investors, although the specifics of the business make the company inaccessible to many large banks and investors due to concerns about illegal content.
In addition to negotiations with Forest Road, the company is also considering an initial public offering (IPO) and is in talks with other potential buyers.
Representatives of OnlyFans and Forest Road declined to comment on information about the negotiations.
It is worth noting that Radvinsky was born in Odesa to a family of Jewish origin, which later emigrated to Chicago. Leonid Radvinsky is known to manage the Leo.com venture capital fund, which is based in Florida. The fund invests mainly in technology companies.
Earlier it was reported that two US residents filed a class action lawsuit against the service OnlyFans, claiming that the platform misled them. According to them, the models with whom they corresponded were not actually corresponding personally, but used agencies to communicate with subscribers.
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