OnlyFans in Talks to Sell Majority Stake to San Francisco Firm

Proposed $5.5 billion deal would value the subscription platform at billions less than previous negotiations.

Jan. 31, 2026 at 1:55pm by Ben Kaplan

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OnlyFans, the London-based platform known for hosting subscription-based pornographic content, is reportedly in exclusive talks to sell a 60% stake to Architect Capital, a San Francisco-based investment firm. The proposed deal values OnlyFans at $5.5 billion, including $3.5 billion in equity and $2 billion in debt, significantly lower than the $8 billion valuation discussed in previous negotiations with another firm last year.

Why it matters

This potential sale represents a shift in OnlyFans' valuation and ownership structure, as the platform continues to navigate its identity beyond just being known as a hub for adult content. The lower valuation compared to prior talks suggests market conditions or investor appetite may have changed, and the deal could impact OnlyFans' future direction and growth strategy.

The details

According to the report, Architect Capital and OnlyFans are currently in exclusive negotiations, meaning OnlyFans' owner Leonid Radvinsky cannot negotiate with other potential buyers for a certain period. The deal is not yet finalized, and no timeline has been set. Last year, OnlyFans was in talks to sell to another investment firm, Forest Road Company, which would have valued the platform at $8 billion, but that deal never materialized.

  • OnlyFans reported a 9% increase in gross revenue for its 2024 fiscal year, earning more than $7.2 billion.

The players

Architect Capital

A San Francisco-based investment firm that is in exclusive talks to acquire a 60% stake in OnlyFans.

Leonid Radvinsky

The owner of OnlyFans, who is currently negotiating the potential sale of a majority stake in the platform.

Forest Road Company

An investment firm that was previously in talks to acquire OnlyFans, which would have valued the platform at $8 billion.

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What’s next

The proposed deal between OnlyFans and Architect Capital is still in the negotiation phase, and no timeline has been set for its completion. The final valuation and ownership structure of OnlyFans will depend on the outcome of these ongoing talks.

The takeaway

The potential sale of a majority stake in OnlyFans to a San Francisco investment firm highlights the platform's continued evolution and the shifting dynamics in the content subscription market. The lower valuation compared to previous negotiations suggests changing market conditions, and the outcome of this deal could significantly impact OnlyFans' future direction and growth strategy.