OnlyFans Could Ban Porn Again in Push for an IPO
OnlyFans may be back on its BS. You’ll probably remember the utter fiasco from August 2021 when OnlyFans, who has made a name for itself as a membership platform allowing creators to monetize explicit content, announced they would be banning porn. At the time, the company pointed to pressure from credit card companies who did not want to process adult content related transactions. OnlyFans flipflopped on their decision after a huge backlash from, you guessed it, the loud and powerful voices of sex workers.
They did not impose the ban, but did do irreparable harm to countless creators who had to grapple with the threat of income precarity. Now, OnlyFans is making moves to go public with an Initial Public Offering (IPO), meaning the company’s shares can be traded on a stock exchange. Online news site Axios is reporting that several potential investors have backed out of the deal due to OnlyFans’ nude and porn content. Ensuring we’re not blindsided by efforts to be shut out of the online platforms that sex workers popularized, we’ll be following this story closely.