OnlyFans is reportedly considering selling a majority stake of its business to investment firm Architect Capital in a deal that would value the platform at $5.5 billion, according to a source close to the deal. The adult creator network, known for its subscription-based content, is currently in exclusivity with Architect Capital, barring negotiations with other potential buyers for a set period.
The potential deal would see Architect Capital assume a 60% stake in OnlyFans, with $3.5 billion in equity and $2 billion in debt, the source told TechCrunch. The Wall Street Journal previously reported on the negotiations. The timeline for completing the deal remains unclear.
In other news, a16z partner Kofi Ampadu, who led the firm's Talent x Opportunity (TxO) fund and program, has left the company. Ampadu announced his departure in an email to staff, obtained by TechCrunch, stating, "During my time at the firm, I was deeply grateful for the opportunity and the trust to lead this work." The TxO program, which launched in 2020 and was paused last November with layoffs, focused on identifying and supporting entrepreneurs from outside traditional networks. Ampadu noted that supporting these entrepreneurs as they "sharpened their ideas, raised capital, and grew into confident leaders was one of the most meaningful experiences of my career."
Meanwhile, SpaceX filed a request with the FCC seeking approval to deploy a constellation of 1 million solar-powered data center satellites into orbit. The company claims this initiative would be a cheaper and more environmentally friendly alternative to land-based data centers, according to The Verge. While the FCC is unlikely to approve such a large network, SpaceX has historically requested approval for unrealistically high numbers of satellites.
In San Francisco, startup Physical Intelligence is developing robot brains. The company's headquarters, marked only by a subtle pi symbol, houses a bustling environment filled with robotics parts, monitors, and robotic arms in various stages of assembly, according to TechCrunch.
Also in the tech world, Selina Tobaccowala, former president and CTO of SurveyMonkey, is working on a new startup called HomeBoost, which aims to help people save on their utility bills. Tobaccowala, inspired by her daughter's reminders to conserve energy, surveyed numerous customers to understand their struggles with lowering utility costs. "I surveyed a ton – a ton – of customers," Tobaccowala told TechCrunch.
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