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Amagi becomes first cloud media SaaS firm to list in India
BENGALURU: Amagi Media Labs has made market history by becoming the first cloud-native SaaS company offering end-to-end solutions for broadcasting and streaming to list on India’s stock exchanges.
The Bengaluru-based firm’s equity shares debuted on the BSE and NSE following a strongly subscribed initial public offering, signalling investor faith in a business that sits at the crossroads of cloud computing, media and advertising.
Founded as a challenger in ad monetisation, Amagi today positions itself as an all-in-one, AI-enabled cloud platform that handles everything from live production and content preparation to distribution and monetisation. In industry speak, it aims to be the “industry cloud” for media and entertainment. In simpler terms, it helps broadcasters and streamers run their businesses in the cloud, faster and smarter.
The IPO, which opened on January 13 and closed on January 16, drew healthy demand across investor categories, underlining confidence in Amagi’s technology-led model and global ambitions.
At the listing ceremony, co-founder and CEO Baskar Subramanian struck an expansive note. He pointed out that less than 10 per cent of the global media ecosystem has moved to the cloud, leaving a vast runway for growth. Streaming, he said, has become the single biggest growth engine for the industry worldwide.
Amagi plans to put this optimism to work. Of the net proceeds from the fresh issue, Rs 550.64 crore will be channelled into technology development and cloud infrastructure through to fiscal 2028. Additional funds will support potential acquisitions and general corporate needs.
The company’s playbook follows what it calls a “Win, expand, extend” strategy. The focus is on deepening existing customer relationships, expanding into new geographies, and extending capabilities through innovation, partnerships and selective acquisitions, all while keeping a close eye on profitable growth.
Kotak Mahindra Capital, Citigroup Global Markets India, Goldman Sachs India, IIFL Capital Services and Avendus Capital acted as book running lead managers to the issue.
For Amagi, the listing is not a finish line but a starting gun. As television and streaming steadily migrate to the cloud, the company is betting that the future of media will be written in code, and run on the cloud.
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UK’s OnlyFans seeks US investor at $3bn valuation after owner’s death
The adult video platform is seeking stability after the death of its billionaire owner
LONDON: OnlyFans is looking for a new partner. The London-based adult video platform is in advanced talks to sell a minority stake of less than 20 per cent to Architect Capital, a San Francisco-based investment firm, in a deal that would value the business at more than $3bn (£2.2bn).
The move is driven by an urgent need for stability. Leonid Radvinsky, the Ukrainian-American billionaire who owned OnlyFans, died of cancer last month at the age of 43, leaving the future of one of Britain’s most profitable privately held businesses suddenly uncertain.
The choice of Architect Capital is not arbitrary. The firm has deep expertise in financial services, which aligns neatly with OnlyFans’ ambitions to offer banking products to its creators, many of whom have long struggled to access basic financial services because of the nature of their work.
The numbers behind OnlyFans are, by any measure, staggering. The platform posted revenues of $1.4bn in the year to 30th November 2024, with a pre-tax profit of $684m, up four per cent on the prior year. Payments to creators totalled $7.2bn over the same period, a rise of nearly ten per cent. Radvinsky personally collected $701m in dividends from the business in 2024 alone, on top of more than $1bn in such payments he had already received. The platform, run through its parent company Felix International, hosts 4.6m creator accounts, with performers keeping 80 per cent of subscription proceeds and the platform pocketing the remaining 20 per cent. It has 377m fan accounts in total.
The current minority stake talks represent a notable scaling back of ambitions. In January, OnlyFans was reported to be in discussions with Architect about selling a majority stake of 60 per cent. Before that, the company had explored a sale to a consortium led by Forest Road Company, a Los Angeles-based investment firm. Neither deal materialised.
OnlyFans has built an enormously lucrative business on content that mainstream finance has long refused to touch. Now, with its owner gone and a $3bn valuation on the table, it is looking for the kind of respectable institutional backing that might finally persuade the banks to take its calls.
