OnlyFans is apparently trying to tone done some of their more sexually explicit content on the site to attract investors.
On Thursday, Bloomberg reported that OnlyFans is going to block all sexually explicit starting in October but will still allow nude photos and videos that comply with the site. According to Bloomberg the changes are coming due to mounting pressure from banking partners.
SCOOP: OnlyFans will prohibit users from posting any sexually explicit conduct, citing mounting pressure from banking partners and payment providers https://t.co/7Njtq5zYJM
— Bloomberg (@business) August 19, 2021
The company will prohibit users from posting any sexually explicit conduct, starting in October. Creators will still be allowed to post nude photos and videos, provided they’re consistent with OnlyFans’ policy, the company said Thursday.
The changes are needed because of mounting pressure from banking partners and payment providers, according to the company.
“In order to ensure the long-term sustainability of our platform, and the continue to host an inclusive community of creators and fans, we must evolve our content guidelines,” OnlyFans said.
News of changes coming to OnlyFans comes hours after Axios revealed the company was having trouble finding investors.
Any other company with growth like OnlyFans would be able to raise big money in a matter of minutes.
But the online creator platform known for its adult content is struggling to find outside investors, according to multiple sources. https://t.co/3Us7FannDx
— Axios (@axios) August 19, 2021
OnlyFans, the online creator platform known for its adult content, is struggling to find outside investors, according to multiple sources.
Between the lines: Sex sells, based on company financials leaked to Axios, but it also scares off venture capitalists.
OnlyFans remains in market, seeking what a source close to the company refers to as a “strategic partner.”
The Raine Group, a merchant bank focused on tech and telecom, this past spring began helping OnlyFans to solicit investors.
Several deep-pocketed firms quickly passed, not even engaging in serious due diligence.
The money it’s hoping to raise would partially cash out majority owner and porn mogul Leo Radivinsky, while providing management with what one venture capitalist calls “more legitimacy.”
OnlyFans declined to comment for this story.
By the numbers: Any other company with growth like OnlyFans would be able to raise big money in a matter of minutes.
People were clearly confused about the OnlyFans news.