OnlyFans reportedly seeks $1 billion valuation as it aims to pivot from porn

OnlyFans is reportedly looking to raise new funding in a deal that values the company at more than $1 billion — and says it wants to shed its reputation as a platform for porn.

The London-based company, which is currently mostly used by adult-movie stars to sling smutty pics and videos, wants the help of mainstream backers who can help it to appeal to a wide range of celebrities and athletes, Bloomberg reported Thursday. Hosting more mainstream content on its platform could also help attract premium advertisers.