Letterboxd has grown in popularity in recent years. Once a niche site The site, which allows users to rate, review and recommend movies to each other, has gone on to add tens of millions of accounts for just the most avid movie buffs, largely due to the interest of Millennials and Gen-Z. Now, the company’s controlling investor has indicated that they may want to cash out.
Traffic lights He informed about this on Sunday Canadian holding company Tiny, which owns about 60 percent of Letterboxd, is courting a variety of potential buyers, including CNBC and MS NOW (formerly MSNBC) parent Versant. According to Semaphore, another potential buyer is the famous Hollywood magazine The Ankler. Small bought the platform in 2023, It is valued at more than 50 million dollars. It is unclear whether the company is close to any deal.
Representatives for Letterboxd and Tiny did not immediately comment when reached by TechCrunch.
Founded in 2011, Letterboxd saw a jump to users in the past few years, rising from 1.7 million in 2020 to nearly 26 million users this year, Citing The New York Times. There is a site in recent years interested from movie studios who see it as both a marketing tool for movies and a source of information about moviegoer trends, as well as the Oscars joining the social platform in digital content partnership a few years ago.
