OnlyFans is in talks to sell for $8 billion
The platform generated $6.6 billion in revenue just in 2023, so the idea of an $8 billion payout doesn't seem that far-fetched. OnlyFans became a global phenomenon during the COVID-19 pandemic and it takes 20 percent of all creator earnings.
Investor interest has peaked over the past several months as impressive earning statements became public. It has managed to triple its revenue since 2020 , which is something many companies that experienced pandemic-related boosts cannot say .
Sources have stated that a deal could be reached within the next week or two. However, Fenix International Ltd have also been in talks with other potential buyers. An IPO is also being considered, an idea that's been floating around since 2022 .
However, an outright purchase is more likely than a public offering. This is due to the porn of it all. The company tried to get around this by announcing a ban on sexually explicit content in 2021, but reversed course before the ban even went into place . OnlyFans is, after all, primarily for sexually explicit content. If you buy something through a link in this article, we may earn commission.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Chicago Tribune
7 minutes ago
- Chicago Tribune
China is expanding into digital currencies, hoping to promote use of its ‘people's money'
BANGKOK — China has been expanding use of digital currencies as it promotes wider use of its yuan, or renminbi, to reflect its status as the world's second-largest economy and challenge the overwhelming sway of the U.S. dollar in international trade and finance. However, restrictions on access to Chinese financial markets and limits on convertibility of the yuan, or 'people's money,' are big obstacles blocking its global use. Still, Hong Kong already has stablecoin regulations and some Chinese experts are pushing for regulations to prepare for a possible stablecoin pegged to the yuan. Officials at the People's Bank of China and State Council Information Office in Beijing did not immediately respond to requests for comment on a Reuters report that the State Council, or Cabinet, is preparing to issue a plan for internationalizing the yuan that might include a yuan stablecoin. In the U.S., President Donald Trump has made cryptofriendly policies a priority for his administration. He signed a law, the GENIUS Act, last month regulating stablecoins. Stablecoins are digital currencies whose value is linked to a specific currency such as the U.S. dollar. They can be used as a substitute in situations where currency transactions might be difficult or costly. They are different from cryptocurrencies like Bitcoin in that their only purpose is to be a means of payment, not an investment meant to be traded to gain value. Dollar stablecoins are typically bought and sold for $1 each. They are based on a reserve equal to their value, but are issued by private institutions, not central banks like the U.S. Federal Reserve. Stablecoins are not Digital Central Bank Currencies, which are digital versions of currencies issued by central banks. They are based on blockchain-based distributed ledgers. They are 'stable' in the sense that their value is anchored to the currency they are based on. Critics of stablecoins say that since they are essentially a proxy for ordinary currencies that can bypass banking systems and safeguards set up to manage traditional financial transactions they may be most useful for illegal purposes. China launched its own digital yuan, the e-CNY issued by its central bank, on a trial basis in 2019, and McDonalds was an early participant in that project. Chinese regulators have banned mining, trading and other dealings in private, decentralized digital currencies like Bitcoin, while encouraging use of the digital yuan. The nearly universal use of electronic payments has facilitated use of the e-CNY in the Chinese mainland, with some cities using it to pay wages of civil servants. State media reported that as of July 2024, there were 7.3 trillion yuan worth of transactions using the currency in areas where it is being used on a trial basis. China has also been promoting use of e-CNY in Africa, as it expands business dealings on the continent. But e-CNY are not stablecoins. Experts say regulations are needed to safely manage use of stablecoins and to ensure they could be used smoothly with bank accounts and payment systems. Hong Kong, a former British colony that has its own financial markets, currency and partly autonomous legal system, enacted a stablecoin law that took effect on Aug. 1. Aimed at attracting wealthy investors who want to use digital currencies and other financial products, it requires that a stablecoin linked to the Hong Kong dollar must be equal to the Hong Kong dollar reserves for that digital currency. As a global duty-free port and financial hub, Hong Kong has often served as a base for trying out paths toward liberalizing Chinese financial markets. But new regulations specifically governing yuan stablecoin would be needed if such a digital currency were issued for use in Hong Kong, Liu Xiaochun, deputy director of the Shanghai Institute of New Finance, recently wrote in a report on the Chinese financial website China's currency is not freely convertible in world financial markets and its stringent controls on foreign exchange are the biggest hindrance toward making the yuan a global currency, experts say. According to the Society for Worldwide Interbank Financial Telecommunication, or SWIFT, as of June, the yuan was the sixth most active currency for global payments by value, with a share of 2.88%. Its use peaked in July 2024 at about 4.7%. It's used more often in trade financing, where it accounts for nearly 6% of such dealings, according to that report. The lion's share of yuan transactions take place in Hong Kong. The U.S. dollar's share as a global payment currency was over 47% as of June, followed by the euro, the British pound, the Canadian dollar and the Japanese yen, the report said.
Business Upturn
8 minutes ago
- Business Upturn
HUL appoints Ex-Hero MotoCorp Niranjan Gupta as CFO after Ritesh Tiwari exits
Hindustan Unilever Limited (HUL) has announced a significant leadership change at its top management level. The company's Board, in its meeting held on August 21, 2025, approved the appointment of Niranjan Gupta as Chief Financial Officer (CFO)-Designate, effective September 1, 2025. He will officially assume charge as Executive Director, Finance & CFO and a Director on the Board from November 1, 2025, for a five-year term, subject to shareholder approval. Gupta will succeed Ritesh Tiwari, who has been appointed as Global Head of M&A and Treasury at Unilever Plc and will be based in London from November 1, 2025. Tiwari's tenure as HUL's CFO and Executive Director, Finance & IT, will conclude at the close of business on October 31, 2025. Niranjan Gupta's profile Niranjan Gupta began his career with HUL and spent nearly two decades across multiple finance and leadership roles before moving on to Vedanta Limited for three years. In 2017, he joined Hero MotoCorp as CFO and was elevated to CEO in 2023. Gupta played a crucial role in improving financial health, shaping long-term strategy, and spearheading strategic partnerships, including the much-talked-about collaboration with Harley Davidson. His return to HUL is seen as a homecoming for a seasoned finance and business leader with expertise spanning M&A, supply chain, and strategy. He will report directly to Priya Nair, CEO & MD, HUL. Ritesh Tiwari's contribution Tiwari, who took over as CFO of HUL in May 2021, navigated the company through the challenging COVID-19 pandemic years, ensuring sustained growth while protecting HUL's financial model. He also led portfolio transformations, capital allocation aligned with strategic priorities, and oversaw major acquisitions and disposals. Most recently, Tiwari played a pivotal role in the demerger of HUL's ice cream business into Kwality Walls (India) Limited, paving the way for its independent listing. CEO's statement Commenting on the leadership changes, Priya Nair said, 'I would like to thank Ritesh for his future-focused leadership and invaluable contribution to HUL. His elevation to the global role is a testament to the strength of HUL's leadership pipeline. At the same time, I am delighted to welcome Niranjan back to HUL and I am confident that he will play a pivotal role in steering the company towards its next phase of growth.' This transition underscores HUL's focus on building a strong leadership bench while aligning with Unilever's global leadership strategy. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Insider
8 minutes ago
- Business Insider
Billionaire investor Howard Marks warns investors are making one big mistake in today's market
In Howard Marks ' view, investors today are doing one thing wrong: assuming the market won't or can't change. The billionaire co-chairman of Oaktree Capital said he believes the US stock market is in the early stages of a bubble. That means investors today could be falsely assuming their strategy in recent years — which involves being heavily invested in equities and concentrated in just a few areas of the market — will continue to work going forward, he said, speaking to Bloomberg on Wednesday. "The single biggest mistake — I've been thinking a lot, what is the biggest single mistake investors make — and I've concluded that it is that they conclude that the way things are today is the way it'll always be, and the things that have been happening will continue to happen. Whereas reversion to the mean is much more likely," Marks said. While Marks said he didn't believe a correction or bubble burst will happen soon, he identified a handful of things that he finds worrying about today's market. There hasn't been a serious market correction in about 16 years. Stocks entered a bear market in 2022 and have also weathered tough periods surrounding events like President Donald Trump's tariffs announcement and the COVID-19 pandemic. That doesn't compare, though, to the sell-off sparked by the Great Financial Crisis, when the market plunged more than 50% and took years to fully recover. Valuations are high. Marks said he wasn't concerned about the Magnificent Seven stocks. That's partly because earnings among most of those firms are still strong, which could mean they're fairly valued. The problem lies in the other 493 stocks in the S&P 500, he said, which are also highly valued despite not producing the same results. "It's the fact that high valuations are being applied to more average companies, that I think is more alarming than exceptional valuations being applied to exceptional companies," he said. Investors are extremely bullish. The last time the investing environment has looked this optimistic was around 1997, Marks estimated, in the years leading up to the dot-com bubble. "People go from neutrality to liking stocks, to liking them a lot, to liking them a ton, to liking them too much. And that's the continuation that creates bubbles, and we're probably in the early days of that," he said. Marks said he believed it was the right time for investors to become defensive in their positioning. His own firm has been snapping up more credit, he said, an asset class he called inherently more defensive than equities. "I'm not raising an alarm bell, but I do think it's time for some caution," he added. With stocks hovering near all-time highs, more forecasters on Wall Street have been eyeing the risk that the market could be mired in a bubble. In a recent note, Bank of America strategists said they believed the high price-to-book ratio of the S&P 500 could be indicative of a market bubble. According to other valuation metrics, stocks now look more expensive than they were at their peak in the early 2000s, John Hussman, the famed bear who called the 2000 and 2008 crashes, wrote in a recent note.
