Letterboxd has grown in popularity in recent years. Once a niche site For the most ardent of movie nerds only, the site, which allows users to rate, review and recommend movies to one another, has continued to add accounts in the tens of millions. thanks in large part to the interest of millennials and Generation Z. Now, the company’s controlling investor has apparently made it known that they are looking to cash out.
Traffic light reported on Sunday that Canadian holding company Tiny, which owns about 60% of Letterboxd, has been courting several potential buyers, including Versant, the parent company of CNBC and MS NOW (formerly MSNBC). Another potential buyer is The Ankler, a popular Hollywood newsletter, according to Semafor. Tiny bought the platform in 2023, valuing it at more than 50 million dollars. It’s unclear if the company has approached any kind of agreement.
Representatives for Letterboxd and Tiny did not immediately comment when contacted by TechCrunch.
Founded in 2011, Letterboxd saw a jump in users in recent years, reaching around 26 million users this year, up from 1.7 million in 2020, according to the New York Times. In recent years, the site has interest seen from movie studios, who see it as a vehicle to market movies and a source of information on moviegoer trends, as well as from the Oscars, which partnered with the social platform in a digital content association several years ago.
