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OnlyFans seeks IPO, but porn a turnoff for traders: report

OnlyFans is trying to companion up with a blank-check company, or SPAC, to put the groundwork for an preliminary public providing — but there are not any takers regardless of the porn platform robust funds, in line with a report.

Potential traders and SPAC companions have been hesitant to become involved with OnlyFans as a result of it quantities to a large on-line market for pornography, according to Axios.

One of the SPACs that was wooed by OnlyFans was Forest Road Acquisition Corp. II, which incorporates Shaquille O’Neal as an advisor.

According to Axios, the SPAC “couldn’t get past the porn.”

Last year, OnlyFans was struggling to seek out enterprise capital money because it searched for a “strategic partner.”

The company retained the providers of The Raine Group, the tech-center service provider financial institution, in hopes of discovering a agency that might inject money into the agency.

But not one of the main VCs — all of whom have been scared off by the sex-driven platform — bothered to do their due diligence, according to Axios.

OnlyFans logo
Investors are reportedly postpone by the location’s pornography-heavy content material.
SOPA Images/LightRocket through Gett

OnlyFans’ wrestle to seek out blue-chip backers may very well be a warning signal for content material creators to tone down their X-rated choices, in line with one in all its stars.

Allie Rae, the Massachusetts ICU nurse and mother-of-three who left her $84,000-a-year job final year and began incomes $200,000 a month on OnlyFans, informed the Post that the company’s drive to go public might drive it to “clean things up.”

“Porn does not go hand in hand with going public,” she informed The Post.

Allie Rae, 37, mentioned that whereas she continues to create content material on OnlyFans for her 30,000 month-to-month subscribers, the writing may very well be on the wall.

She informed the Post she was moved to create her personal crypto-friendly platform after  OnlyFans introduced final year that it could cease permitting pornographic materials on its platform.

But a public outcry towards the change in coverage prompted the company to reverse course.

Rae now says that OnlyFans’ problem in drawing investor curiosity ought to immediate content material creators to guard themselves in case the location shifts business methods and begins limiting its content material to “PG-rated.”

Millions of users pay a monthly subscription fee to content creators who offer explicit videos.
Millions of customers pay a month-to-month subscription price to content material creators who provide specific movies.
NurPhoto through Getty Images

Last year, OnlyFans launched OFTV, a streaming platform during which celebrities seem in cooking exhibits and comedic skits.

The agency hopes that transferring away from its porn-heavy emphasis will allow it to draw extra curiosity from Wall Street.

Allie Rae says that content material creators want to arrange forward of time.

“I love OnlyFans. OnlyFans has changed my life,” she informed the Post. “But I’m a businesswoman.”

“Content creators need to be prepared and to have other options.”

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