Brands
Videocon bags National Energy Conservation Award 2016
MUMBAI: Videocon, the leading consumer electronic and home appliances company, today added another feather to its cap by winning the first prize for Best Manufacturer of BEE Star Labelled Appliances, in the Air Conditioner category, at the National Energy Conservation Award – 2016. This is the second time in a row that the brand has been awarded the most energy efficient brand. Last year during the award ceremony, Videocon bagged the first prize for the refrigerator category. The award aims at giving national recognition to companies who have made significant contributions in creating awareness towards and production of energy efficient appliances.
Highlighting Videocon’s energy efficient products and practices Videocon Chief Manufacturing and Procurement Officer Abhijit Kotnis said, “It is a moment of pride for all of us at Videocon. We have always worked towards creating high quality and energy efficient Air Conditioners, and it seems that our focus on high-end products has paid off. Videocon extends its sincere appreciation towards the trust of its customers. The award surely would not have been possible without the hard work that the team at Videocon has put in.”
“We are truly honoured to receive the National Energy Conservation Award for the second time in a row. As a responsible Indian manufacturer, we understand the importance of conserving energy for a brighter and better tomorrow, and that is exactly what this award also encourages us all to do. It is our endeavour to achieve the highest energy standards for our products and for that we relentlessly adhere to best practices. Videocon’s focus is always on the high-end products, and hence products like the BEE-certified 5 star range of Air Conditioners will always remain on of the brand’s key strengths,” Videocon Head of Technology and Innovation Akshay Dhoot.
Organised by the Bureau of Energy Efficiency, the award ceremony was held in the capital on the occasion of National Energy Conservation Day. Minister of State (I/C) for Power, Coal, New and Renewable energy & mines, Shri Piyush Goyal presented the awards to all the winners. The award is presented annually by the ministry of power, Government of India.
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.
