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OnlyFans Raises Over $500 Million After Surging in Users
What is OnlyFans?
OnlyFans, the California-based social network app developer, announced that it had raised $500 million in venture capital funding from General Catalyst and Sequoia Capital, among others.
The app allows users to interact with their favorite social media influencers and celebrities without having to follow them on their primary accounts.
According to company figures, there are an estimated 220 million OnlyFans users worldwide, compared to about 800,000 Twitter followers for its celebrity founders Blake Harvey and Cody Hunter.
The company is owned by Tim Stokeyly and it was founded back in 2016. The company has more than 220 million users and is growing! OnlyFans creates online subscription-based communities for celebrities and athletes to communicate with their fans.
It differs from social media platforms like Instagram, where the posts are public, while on OnlyFans they're kept private unless you subscribe.
Fans can subscribe to as many of their favorite stars as they want and gain access to exclusive content not available anywhere else, including never-before-seen photos, videos, blogs, games, articles, and other cool stuff created exclusively for the members of these select groups.
