ONLYFANS founder Tim Stokely has stepped down as CEO of the subscription sex video platform months after the site flip-flopped over the banning of sexually explicit content.
Stokley's move came after transforming the adult platform into a billion-dollar company.
“I’d like to thank all of my colleagues, but the most important thank you is to all of the content creators … you made OnlyFans what it is today,” Stokely wrote in an Instagram post on Tuesday.
Stokely, who founded OnlyFans in 2016, will be succeeded by the app’s 36-year-old chief marketing and communications officer Amrapali Gan.
According to the adult site, Stokely will stay with the company as an advisor.
OnlyFans is a social network where content creators share, among other things, porn images and videos for a monthly fee.
Fans pay anywhere from $5 to $55 a month for pictures from their favorite creators – with OnlyFans taking a 20 percent piece of the pie.
According to Axios, the company saw a $1.2billion net revenue last year from the 20 percent commissions it charges creators.
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The site gained traction in 2020, as unemployed content creators took to OnlyFans as a way to earn a living.
FLIP-FLOP ON SEX CONTENT
In August, the subscription content service announced it would be banning sexually explicit videos starting in October.
The company said that starting October 1, members would have still been able to post some nude content, but it would need to obey the new OnlyFans' policy banning sexually explicit images and video.
OnlyFans said that the changes were due to pressure from banking partners and payment providers.
The company had also reportedly struggled to gain backing from traditional venture capital investors, many of whom avoid investing in “vice” industries such as pornography, alcohol and firearms.
However, sex workers were left confused and angry at the platform when they initially decided to ban porn.
OnlyFans model Courtney Tillia told The US Sun that she felt "betrayed" after creators were kept in the dark about the ban.
The star claimed that creators were left to find out the news via the media as the website never reached out privately before the bombshell.
Special education teacher turned model Courtney told The US Sun how she and other creators learned of OnlyFans' new guidelines through the news and not from the platform itself.
When asked if they were informed before the announcement, she said: "Not at all.
"That’s part of what is really frustrating – there isn’t any attempt to communicate with those who have made their platform what it is.
"We’re all just hearing things from other sources right now. It’s obviously creating a lot of confusion and chaos for creators."
OnlyFans was forced to reverse the ban after the company’s lucrative core base of creators were outraged.
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