Brands
Eveready spreads ‘Dudhiya Roshani’ in Kumbh
MUMBAI: Eveready gave a unique facelift to the Kumbh Mela-the largest conglomeration of humans on this planet-by welcoming to Prayagraj thousands of devotees with vast number of professional grade LED streetlights, which lit up the city in ‘Brilliant and Efficient "Dudhiya Roshani”’.
The tender to fix the lights at one of the biggest festivals in country and globally was bagged by Eveready due to its technically superior products and competitive price range.
Emphasising on the importance of amenities for the Kumbh mela, Eveready Industries India Ltd (EIIL) senior vice president, sales and marketing Anil Bajaj said, “With a deep rooted mantra of making a difference to the devotees thronging the mega spectacle called the ‘Kumbh’, EIIL helped the Kumbh authorities in managing the smooth conduct of the mela by way of facilitating Sangam bound direction boards, changing rooms for ladies, police watch towers and tall standing media towers to name a few.”
He further added, “Time and again, we have adopted several methods to positively impact the experience of devotees coming to this mela. The brand has established a strong connect through extensive on-ground activities.”
Eveready Industries India Ltd vice president and business head luminaries Mangesh Khisty said, “We were honoured to supply more than 15000 professional LED lights for the Kumbh mela, helping the Kumbh administration in their efforts to make the area well-lit at all times and safe for the general public. EIIL also illuminated the path with street lights, reiterating the ethos of the brand.”
Brands
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.
