Brands
Max Life Insurance announces partnership with Royal Challengers Bangalore
MUMBAI: Max Life Insurance has announced its partnership with Royal Challengers Bangalore for the upcoming T20 season. As a part of the partnership, Max Life Insurance will be the official life insurance partner of the Bengaluru team for T20 League.
Speaking on the partnership, Max Life Insurance managing director and CEO Prashant Tripathy said, “India is a young country and T20 offers a great platform to connect with the youth. The partnership of Max Life with Royal Challengers Bangalore is aimed at reaching out to the youth in an impactful manner through their diverse and dynamic fan base. The recent India Protection Quotient survey conducted by with Kantar IMRB across India has revealed that only 17 per cent of youth own term insurance, which is one of the cheapest forms of life insurance. As life insurance partners of the team, we hope to increase awareness around protection with the youth and drive the message to build a more protected nation.”
Royal Challengers Bangalore chairman Sanjeev Churiwala stated, “While protection of players is taken care of in many ways, the financial manifestation is something that needs to be given equal thought to. We are happy to be partnering with Max Life Insurance, a life insurer that also has one of the best claims paid ratio currently in the country. We aim to drive the message of the importance of financial protection through this partnership.”
The partnership between Max Life and Royal Challengers Bangalore aims to draw the attention of fans and public alike, to the importance and criticality of financial protection in today’s world. Royal Challengers Bangalore will play Chennai Super Kings at the MA Chidambaram Stadium on 23 March to kick start the 12th edition of Indian Premier League.
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.
