OnlyFans is reportedly going for a G-rating instead of XXX. OnlyFans says it wants to shed its reputation as a platform for porn in a deal that values the company at more than $1 billion. The London-based company, which is currently mostly used for adult entertainment, wants the help of mainstream backers who can help it to appeal to a wide range of celebrities and athletes—and so far, it has drawn celebrities including star boxer Floyd Mayweather, actress Bella Thorne and rappers Cardi B and Chris Brown.
It’s not clear why the company wants to get out of the smut business, but hosting more mainstream content on its platform could help attract premium advertisers. Despite the company’s impressive profits, OnlyFans may have trouble attracting investment from traditional venture capital investors. Venture capital firms often have agreements with investors that prevent them from investing in “vice” industries including porn, alcohol, firearms that they worry can harm their reputation.
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Check out more about OnlyFans seeking mainstream backers to pivot away from porn: https://nypost.com/2021/06/17/onlyfans-seeks-1b-valuation-as-it-aims-to-pivot-from-porn-report/
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