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Adult content platform Slushy has raised $10.2 million in seed funding, CEO David Gross tells Axios.

Why it matters: The funding underscores continued investor interest in the creator economy and specifically for adult content.

How it works: Founded in 2020, Slushy offers a platform for creators to share free and paid content that can include nudity. 

The Miami-based company takes a 20% cut of creator's revenue. Creators can also make money through a 5% referral fee and a 1% affiliate fee.

In the first quarter of 2024, Slushy reached 1 million users and 10,000 creators. 

Catch up quick: Prior to building Slushy, Gross founded and exited three companies: SolveBio, 5by and TwitterAudit. 

Co-founder Josh Metz previously worked as director of marketing at Tinder and now serves as CMO of Slushy. The other founders are Fred Spivock, the CTO, and influencer Julia Rose, head of talent.

Zoom in: Existing investors The Chainsmokers' Mantis VC, Electric Feel Ventures, former Shutterstock CEO Jon Oringer and Tinder co-founder Sean Rad participated in the seed round. 

Clapper CEO Edison Chen and Grammy winner Brooklyn Johnny also participated.

Slushy raised a pre-seed round of $3.5 million in 2022.

Zoom out: Slushy is an alternative to OnlyFans, a U.K. company that topped $1 billion in revenue with $525 million in profit in 2022.

OnlyFans previously struggled to secure VC investors and explored going public. 

Back in 2021, OnlyFans announced it would prohibit creators from posting "sexually explicit" content at the request of its banking and payout partners — only to then reverse the decision.

What's next: The new funds will help expand Slushy's team of 10, Gross says, and support feature development, creator onboarding, growing to new markets like South America and marketing.

Slushy plans to introduce advertising to grow its revenue, Gross says.

National

OnlyFans competitor Slushy raises $10.2M

The Chainsmokers' Mantis VC participated in the seed round.

Illustration of "XXX" symbols made from crossed hundred dollar bills. 

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OnlyFans competitor Slushy raises $10.2M

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