OnlyFans CEO weighs in on going public
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Despite looking into raising outside capital and going public a couple of years ago, neither of those things are "on the roadmap right now," for adult content platform OnlyFans.
Why it matters: Keily Blair, who took over as CEO of OnlyFans in July, delivered that message on Thursday to Axios BFD. The company's business saw exponential growth during the pandemic, and it hasn't slowed down since then.
What they're saying: "It's good to think about how your business is structured. It's good to think about whether you'd benefit from having other people on board," added Blair when asked why the company explored those paths.
- "But, you know, traditionally speaking, people go out to the markets because they need to raise capital to invest. That's not our driver. We don't need to do that," she added.
Of note: Ukrainian-American entrepreneur Leonid Radvinsky, who bought a 75% stake in OnlyFans in 2018 from founders Tim and Guy Stokely, is now the sole shareholder in the company.
Be smart: OnlyFans remains best known for adult content, which often overshadows its financial success. A few metrics from a recent U.K. financial filing:
- Revenue: $1.1 billion in 2022, up from $932 million in 2021.
- Profit: $403 million in 2022, up from $325 million in 2021
- Creators: 3.2 million in 2022, up from 2.2 million in 2021 (47% growth)
- Fans (subscribers): 239 million in 2022, up from 188 million in 2021 (27% growth)
