OnlyFans — the massive adult entertainment network where performers and influencers sell subscription-based content directly to fans — is considering selling a majority stake in its business to investment firm Architect Capital, a source close to the deal told TechCrunch. The deal will value the platform at $5.5 billion.

The source said that of that $5.5 billion, $3.5 billion is equity and $2 billion is debt. Under the terms, the Architect will assume a 60% stake in the business. Both parties are on exclusivity, which means that OnlyFans is prohibited from negotiating with other potential buyers for a specified period of time. It’s unclear what the timeline is for completing the deal. The negotiations are previously reported via The Wall Street Journal.

TechCrunch has reached out to Architect Capital for comment.

This isn’t the first time in recent memory that OnlyFans has been in talks to sell its business. Last year, the New York Post reported that Leonid Radvinsky, the site’s billionaire owner, is looking to “cash out,” and is courting potential buyers. Succession report shows that the platform’s parent company, Fenix ​​International Ltd., is in talks with a US-based investor group led by Los Angeles-based investment firm Forest Road Company. It’s not clear what happened in the discussions, although the source told TechCrunch that there have been several interested parties since OnlyFans announced its desire to sell a majority stake.

The potential business partner in this particular deal, Architect, launched in 2021 as an asset-based lender – a company that provides loans secured by the company’s assets – looking to partner early stage startups.

OnlyFans maintains that it is not a pornography website, despite the fact that most of its creators produce mature content. A British company, the site was founded in 2016 by Tim Stokely, who initially also served as CEO. Stokely sold majority stake of the site’s parent company, Fenix ​​International, to Radvinsky in 2018. Over the years, it has suffered various legal controversies, including cases accused the site of profiting from abusive videos.