OnlyFans is negotiating to sell a majority stake to investment firm Architect Capital in a deal that would value the creator platform at $5.5 billion, according to sources familiar with the matter. The transaction would hand Architect a 60% ownership stake, marking a potential exit for billionaire owner Leonid Radvinsky after years of explosive growth in the subscription content space. It's the latest chapter in OnlyFans' ongoing search for buyers as the platform looks to capitalize on its massive profitability.
OnlyFans just moved one step closer to changing hands. The subscription content platform that's become synonymous with creator monetization is in exclusive negotiations with Architect Capital, barring it from talking to other potential buyers while the two sides hammer out terms, a source close to the deal told TechCrunch.
The numbers are staggering. At a $5.5 billion valuation, the deal would split into $3.5 billion in equity and $2 billion in debt. Architect would walk away controlling 60% of the business, effectively taking the reins from Leonid Radvinsky, the billionaire who's owned the platform since buying a majority stake back in 2018. The timeline for closing remains unclear, but the exclusivity period signals serious momentum.
The Wall Street Journal first reported the negotiations, though details about the deal structure are just now coming into focus. What's remarkable is how this represents a significant step down from previous valuation expectations - last year, reports pegged potential deals at around $8 billion.
This isn't Radvinsky's first rodeo trying to cash out. The New York Post reported last May that the reclusive billionaire was actively courting buyers. Shortly after, Reuters revealed that Fenix International Ltd., OnlyFans' parent company, was deep in conversations with a U.S. investor group led by Los Angeles-based Forest Road Company. Those talks apparently fizzled, though the source says multiple parties have expressed interest since OnlyFans signaled its openness to a sale.
