Letterboxd has skyrocketed in reputation lately. as soon as niche site The location continues so as to add tens of hundreds of thousands of accounts, catering solely to probably the most devoted film geeks, the place customers can price, assessment, and suggest motion pictures to one another. Mainly thanks to interest from Millennials and Gen Z.. Now, the corporate’s controlling investor has apparently revealed that he’s contemplating cashing out.
semaphores reported on Sunday Canadian holding firm Tiny, which owns about 60% of Letterboxd, is in talks with a wide range of potential consumers, together with CNBC and MS NOW (previously MSNBC) guardian firm Versant. One other potential purchaser is Anclar, a well-liked Hollywood publication, in keeping with Semafor. small Purchase platform in 2023, worth more than $50 million. It’s unclear whether or not the corporate is near any settlement.
Representatives for Letterboxd and Tiny didn’t instantly reply to TechCrunch’s requests for remark.
Based in 2011, Letterboxd attract users Over the previous few years, the variety of customers has elevated from 1.7 million in 2020 to roughly 26 million this yr. According to the New York Times. Lately, this website has I’m interested From film studios that see motion pictures as each a advertising car and a supply of details about moviegoer developments, and from Oscar, which has partnered with social platforms. In digital content partnership years in the past.
