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OnlyFans SPAC Ipo stock, Substack for pornographic thirst traps

OnlyFans SPAC Ipo stock, Substack for pornographic thirst traps

If you combine the words "OnlyFans and SPACs," you may use them to promote:

  • delaying a traveler back to the 1980s and
  • increasing the number of clicks a headline receives.

Other than that, it isn't a match made in heaven.

The subscription-based OnlyFans platform, which is kind of like a Substack for pornographic thirst traps, is trying to go public by merging with a SPAC. Short for "specialized acquisition company," it's a different kind of thirst trap. People who work for so-called "blank check" companies try to buy hot merger targets with money from public investors who want to see an IPO-like rise in their stock prices. But too often, they only help their sponsors.

For a while, they were one of the hottest things on Wall Street. Investors haven't been friends with them anymore, and SPACs have a bad reputation for overpromising and underdelivering.

With $1.2 billion in net revenue and $620 million in free cash flow last year, OnlyFans shouldn't have a problem "underdelivering." Both of these numbers are expected to double in 2022.

But OnlyFans does have a "pornography" problem, which is that it turns off SPACs, which is bad. A lot of its content creators and most of its users were angry when it tried to ban "sexually explicit" content last August. This angered a lot of people. It had to give up on that plan, but it still needs money, and Axios says even SPACs don't like porn.

OnlyFans SPAC Ipo stock, Substack for pornographic thirst traps
OnlyFans SPAC Ipo stock, Substack for pornographic thirst traps

The new goal is for OnlyFans to become "a mix of Patreon and TikTok," it's said. These things sound great, but they already exist. Making a rival fusion of them both will cost money.

TikTok might have helped OnlyFans get Kevin Mayer's SPAC to fall in love with them, so they tried to get them. She had cups of coffee at TikTok and Disney, so you might remember. It may have been too much for him to go from Mickey Mouse to adult content at the same time. Everyone can't be Bella Thorne, but there are some people who can be her.

A little hypocrisy comes from Wall Street, because adult content has made a lot of money for investors in the early days of the Internet and now. A lot of people want to see the sex work OnlyFans promotes as real work.

A SPAC was fine with Playboy going public last year, but the relaunched company changed its name to PLBY Group, which is a "pleasure and lifestyle" company. A few months after the SPAC merger, that stock went up a lot. But it hasn't done well for the last year or so,

Because Playboy has a good track record, maybe SPACs don't like OnlyFans because of that. Although there are more than 600 of them, and OnlyFans makes a lot of money, you'd think someone would give in to their desire for deals.

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