Letterboxes have increased in popularity in recent years. once a niche site Meant for only the most ardent movie buffs, the site – which allows users to rate, review and recommend movies to each other – has continued to add millions of accounts, Thanks in large part to the interest of Millennials and Gen-Z. Now, the company’s controlling investor has made it clear that they are looking to cash out.
Semaphore This information was given on Sunday Canadian holding company Tiny, which owns about 60 percent of Letterboxd, is courting a variety of potential buyers, including Versant, parent company of CNBC and MS Now (formerly MSNBC). According to Semaphore, another potential buyer is The Uncler, a popular Hollywood newspaper. Small Bought platform in 2023, It was estimated to be worth more than $50 million.. It’s unclear whether the company is close to any kind of deal.
Representatives for Letterboxd and Tiny did not immediately comment when contacted by TechCrunch.
Established in 2011, Letterboxd saw a jump into users Over the years, it has grown to 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 saw interest From film studios, who see it as a medium for marketing films and a source of information about movie audience trends, as well as from the Oscars, which teamed up with the social platform Digital content sharing several years ago.
