Brands
Procter & Gamble partners WE Hub to identify and collaborate with startups
MUMBAI: Procter & Gamble (P&G) in partnership with WE Hub, the first-of-its-kind state-run platform for Women Entrepreneurs, recently concluded its first Telangana edition of vGROW Summit. vGROW is P&G’s first-of-its-kind platform to identify and collaborate with businesses and individuals offering innovative industry-leading solutions. Three startups were selected to pilot innovative digitisation and energy optimisation solutions at P&G’s Hyderabad plant that manufactures Ariel®, Tide® and Pampers®. This partnership is in line with P&G’s commitment to invest in Indian startups and inclusive growth.
More than 55 startups, from across India, applied through WE Hub. The shortlisted applicants were then given an opportunity to pitch their innovative solutions at P&G’s vGROW Summit held at WE Hub office in Hyderabad. Out of these, three startups will now be piloting their solutions at P&G’s Hyderabad manufacturing plant.
Principal secretary to IT E & C Department Jayesh Ranjan said, “It is encouraging to see organisations like P&G and initiatives like vGROW supporting the startups in the country. Partnerships like these will help create an ecosystem for inclusive growth.”
P&G India associate director – purchasing and supplier partnerships Shivangi Jain said, “As a company, innovation is an integral part of how we operate and provide superior propositions to our consumers. We firmly believe that when all stakeholders come together, it accelerates innovation that leads to inclusive growth. Our partnership with WE Hub is helping us connect and leverage external startup capabilities to strengthen our operations and drive inclusive growth in the state of Telangana. This partnership is part of P&G’s vGROW platform in line with the company’s commitment to invest and collaborate with startups, small businesses, and individuals offering innovative industry-leading solutions.”
WE Hub CEO Deepthi Ravula said, “P&G’s active participation to involve startups in their pursuit to drive automation in their manufacturing site sets a great precedent for involvement of Corporates in creating a conducive environment for startups. The success of the program was its structured approach, as all relevant stakeholders were well-prepped on working with startups, which helped the startups understand the problem statements better.”
The handpicked startups will now work in close collaboration with the P&G team to pilot their solutions at P&Gs Hyderabad plant.
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.
