Brands
Le 1s Eco sale to boom with Flipkart’s Big Shopping Days
MUMBAI: LeEco, the multinational internet ecosystem conglomerate announces that the highly popular Le 1s Eco will be on open sale during the Big Shopping Days of Flipkart on 25, 26 and 27 May, 2016 with very attractive offers.
During this period, the company is looking to present appealing offers on the Le1s Eco, which will be one of the best in the industry.
The consumers who buys a Le 1s Eco during this time will be offered the following –
1. LeEco Earphone worth Rs. 1300/- on every purchase
2. Additional 10% Cash Back on Citi Debit and Credit Cards
3. Additional Rs. 2000/- on exchange of the old phone.
4. Free Back Cover on every purchase
5. Le Eco Membership worth Rs. 4900/-
Commenting on the announcement, LeEco India COO smart electronics business Atul Jain said, “We are humbled and overwhelmed with the kind of responses we are getting from our users. This announcement of giving special offers is a way of expressing our gratitude to our loyal users”.
LeEco has recently launched its first Made for India Le 1s Eco Superphone that comes bundled with one year Supertainment program membership. Apart from the impressive number of devices sold, the company also notched up an industry first by bundling content worth Rs. 500+ million through LeEco memberships. It also made an unprecedented record of selling more than 5 lakh units of its Superphones within just 100 days after it officially entered into India.
At a compelling price of Rs. 9,999, Le1 1s Eco is the first device to showcase the integrated content one-stop experience coupled with breakthrough technology that will disrupt boundaries and bring true value to users. It packs superlative specs with first of its kind Made for India Supertainment. All Le Superphones would be upgraded with an OTA, after which Supertainment program members would have access to excellent movies, music and TV channels.
LeEco’s unique content ecosystem brings alive the company’s partnerships with Eros Now and YuppTV, through its platforms – Levidi and Live. The third premium content under LeEco Membership Program will be LeMusic that will allow members to listen to their favorite songs from over a wide range of *3.5+ million songs, that will come live on Q3 of 2016.
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.
