Letterboxd has surged in recognition in recent times. As soon as a niche site for under essentially the most fervent of movie nerds, the location — which permits customers to fee, overview, and advocate motion pictures to 1 one other — has continued so as to add accounts by the tens of thousands and thousands, thanks largely to interest from millennials and Gen Z. Now, the corporate’s controlling investor has apparently made it recognized that they need to money out.
Site visitors lights reported Sunday that Canadian holding firm Tiny, which owns some 60% of Letterboxd, has been courting numerous potential consumers, together with Versant, the dad or mum firm of CNBC and MS NOW (previously MSNBC). One other potential purchaser is The Ankler, a well-liked Hollywood e-newsletter, in accordance with Semafor. Tiny bought the platform in 2023, valuing it at over $50 million. It’s unclear whether or not the corporate has neared any form of deal.
Representatives for Letterboxd and Tiny didn’t instantly present remark when reached by TechCrunch.
Based in 2011, Letterboxd noticed a jump in users previously few years, climbing to about 26 million customers this 12 months, up from 1.7 million in 2020, according to The New York Times. In recent times, the location has seen interest from film studios, which see it each as a automobile for advertising and marketing movies and a supply of details about moviegoer traits, in addition to from the Oscars, which teamed up with the social platform in a digital content partnership a number of years in the past.
