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Easy Trip Planners makes changes at the top
MUMBAI: Ease My Trip has announced a sweeping boardroom reshuffle. The online travel agency’s board, meeting on 29 August, cleared the elevation of Nishant Pitti from whole time director to chairman-cum-managing director for a five-year term, subject to shareholder approval. Nishant, who co-founded the company, will now steer the business with expanded authority as it eyes growth in a competitive market.
Alongside, the board appointed Vikas Bansal as whole time director, also for five years, signalling a fresh push to strengthen management bandwidth. Bansal’s induction marks a key addition to the leadership bench as the company looks to broaden its strategic play beyond flight and hotel bookings.
The shuffle also saw a notable exit. Prashant Pitti, another co-founder, resigned as managing director with immediate effect. His departure trims the Pitti family’s active leadership presence, leaving Nishant firmly at the helm.
The moves, cleared under SEBI’s listing norms, underline a generational shift in Ease My Trip’s governance and a sharper delineation of roles at a time when India’s online travel sector is recovering momentum post-pandemic and intensifying its battle for market share.
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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.
