OnlyFans in advanced talks to sell under 20% stake to Architect Capital at $3B+ valuation, it has been reported

Deal details

It has been reported that OnlyFans is in advanced talks to sell Architect Capital a stake of less than 20% at a valuation just north of $3 billion. That price tag is a big step down from earlier reports that the company had sought to offload roughly 60% of the business at about a $5.5 billion valuation. The Financial Times is the source of the latest figures; the negotiations are described as advanced but not final, and terms could still change.

A recalibration, not a surprise

Why the haircut? Partly, this looks like a market reset. Subscription-driven platforms enjoyed a pandemic-era tailwind — remember the boom? — but investor appetite has cooled and scrutiny of monetization and regulatory risk has sharpened. The smaller, lower-priced stake also signals a shift in investor confidence: buyers still see value in the OnlyFans cash engine, but they’re no longer willing to pay top dollar for control or growth assumptions that now feel optimistic.

What this means for creators and the market

For creators, the headline is anxiety-inducing. A lower valuation and a minority sale could mean a slower runway for new product investment or tougher cost controls — or it could simply bring in fresh capital without changing day-to-day operations. For the wider market, it’s another reminder that the era of sky-high private valuations is tempering. Will this make other niche creator platforms more cautious in pitching bold growth stories? Probably.

The next act

Negotiations reportedly continue. If a deal closes at the lower valuation, it will be a clear marker of where investors currently price risk in creator economy businesses — and a reality check for anyone banking on pandemic-era multiples.

Sources: ft.com