OnlyFans seeks funding at $1 billion valuation

OnlyFans is reportedly seeking $1 billion valuation as a follow-up to its boom in 2020. Since early 2020, the platform has seen a 40% increase in the number of creators and users to 85 million from 7.5 million.

OnlyFans is one of the content platforms that has been growing exponentially since the beginning of the COVID-19 global health emergency. The platform provides pay-per-view (PPV) contents made by creators who are known as an alternative platform for sex workers. However, it also welcomes other types of creators, such as fitness trainers and musicians.

As it reported $2 billion in sales and $400 million in revenue, the subscription-based platform began to catch the attention of inventors and venture capital firms. However, the semi-adult content closely associated with the platform makes it difficult for them to secure funding. It is possible that OnlyFans will shed this image and pivot to a more mainstream media to reach the $1 billion valuation goal.