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PayTM pledges 100 oxygen concentrators, one oxygen plant for Covid relief
KERALA: Indian e-wallet and fintech company PayTM has pledged to donate 100 concentrators and one oxygen plant for Covid relief efforts in Gujarat. The donations were made to the Corona Sewa Yagna initiative spearheaded by Gujarat governor Acharya Devvrat.
PayTM has donated oxygen concentrators to combat the shortage in the supply of medical oxygen and stabilise the healthcare infrastructure. The oxygen concentrators will be sent to public hospitals, Covid-19 clinics, primary health centres, dedicated Covid-19 hospitals and health centres.
“We feel proud to extend our efforts to support Gujarat governor Shri Acharya Devvrat’s noble ‘Corona Sewa Yagna’ initiative. It’s crucial in the time of crisis to provide a pillar of support to our fellow citizens as pandemic waves hit the shores. We aim to converge our resources along with the state government’s initiatives to save as many lives of the people of Gujarat. These oxygen concentrators are our humble contribution to help overcome the oxygen shortage by the Gujarat citizens struggling with Covid-19,” said PayTM founder & CEO Vijay Shekhar Sharma.
Non-profit organisation Yuva Unstoppable is supporting this campaign under the mentorship of the governor of Gujarat. Other corporates like HDFC Bank, Finolex, JITO, and more have supported ‘Corona Sewa Yagna’ initiative.
PayTM’s helping hand to its employees
While interacting with the Indiantelevision.com, Sharma talked about various initiatives PayTM has taken to assure the wellbeing of its employees.
“Unfortunately, we have lost eight members of our PayTM family due to the Covid pandemic. We, at PayTM, are trying our best to fulfil the needs of the employees at these pandemic times. We are providing jobs to the dependents of the deceased employees, and we are meeting their family expenses for one year. We have introduced work from home option to our employees. We have given health insurance to our employees, and have never compelled them to work if they face any Covid-related issues,” he added.
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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.
