OnlyFans, the online subscription platform that surged to global fame during the pandemic, is reportedly in advanced talks to be sold for a jaw-dropping $8 billion. According to exclusive sources speaking to Reuters, Fenix International Ltd., the parent company of OnlyFans, is negotiating with a group of investors led by Forest Road Company—a Los Angeles-based private investment firm.
This development has stirred the tech and finance world as investors look to stake their claim in one of the most profitable and controversial platforms on the internet.
From Pandemic Boom to Billion-Dollar Valuation
OnlyFans became a household name during the COVID-19 lockdowns, offering content creators—especially in the adult entertainment industry—a way to monetize their work through subscriptions. The platform’s model is simple: creators keep 80% of their earnings, while OnlyFans takes a 20% cut.
That business model has proven incredibly lucrative. In 2023 alone, the platform generated a staggering $6.6 billion in revenue—up from just $375 million in 2020. This explosive growth has made the platform highly attractive to investors, despite the controversy that surrounds it.
Inside the Deal Talks
The investor group looking to acquire OnlyFans is led by Forest Road, which has shown previous interest in taking the company public via a SPAC deal in 2022. While those plans didn’t come to fruition, Forest Road’s renewed interest—this time as a lead buyer—signals strong confidence in OnlyFans’ long-term profitability.
Sources suggest the discussions have been ongoing since at least March 2025, and a deal could be finalized within weeks. However, insiders caution that the agreement isn’t guaranteed, as Fenix is also exploring offers from other interested parties. An IPO is reportedly still on the table as an alternative.
Who’s Behind OnlyFans?
The sole owner of OnlyFans is Leonid Radvinsky, a Ukrainian-American businessman who acquired the company in 2018. Since then, he has reportedly paid himself over $1 billion in dividends, according to UK regulatory filings. His current whereabouts are unknown, and he has remained tight-lipped about the company’s future.
The Dark Side of Success
Despite its financial success, OnlyFans has been under scrutiny for hosting nonconsensual content, including cases involving minors and trafficking victims. These concerns have made it a red flag for traditional financial institutions and many mainstream investors, who fear potential legal liabilities and reputational damage.
Reuters investigations have highlighted ongoing concerns, including allegations that child sexual abuse material and exploitative content have appeared on the platform since 2019. These issues have kept large banks and institutional investors at bay.
What’s Next for OnlyFans?
If the $8 billion sale goes through, it could mark a major turning point for OnlyFans—possibly transitioning it into more mainstream territory or leading to stricter oversight. Whether it ends in a sale or a public listing, one thing is clear: the future of one of the internet’s most profitable platforms is up for grabs.
