OnlyFans, or shall we say OnlySPACs soon, is looking to go public. The London-based content-sharing platform is in discussions with numerous blank check companies for a SPAC deal.
The platform's largely adult content has made raising money through investors difficult in the past. OnlyFans had tried to ban its adult content to attract bank investors, but due to massive creator and consumer backlash, it decided to bring the content back. Since, it's repositioned itself as less of an adult content site and more of a place for direct fan and creator interaction — we're talking paid videos, photos, private one-on-one chats, etc.
Why it matters
Repositioning its reputation to be a mixture of “Pateron and TikTok” may save OnlyFans some ESG penalty marks, which is an important aspect for investors today.