Letterboxd in talks to sell to Netflix and other bidders
Letterboxd, a popular social platform for movies, is reportedly in talks to sell to potential buyers including Netflix, Sony Pictures, and Paramount. The Canadian company Tiny owns a 60% share, while co-founders Matthew Buchanan and Karl von Randow own 40%. Letterboxd has a valuation of $250m and over 26 million users worldwide.
Key points
- Letterboxd is in talks with Netflix, Sony Pictures, and Paramount to sell the company.
- Tiny, the Canadian holding company, owns 60% of Letterboxd, while co-founders Matthew Buchanan and Karl von Randow own 40%.
- Letterboxd has a valuation of $250m and over 26 million users worldwide.
- Other potential buyers include private equity companies TPG and Redbird, as well as Reddit co-founder Alexis Ohanian.
- Letterboxd has become a popular platform for young movie enthusiasts, with celebrities like Charli xcx and Martin Scorsese using the app.
Letterboxd, a social platform for movie enthusiasts, is reportedly in talks to sell to potential buyers including Netflix, Sony Pictures, and Paramount. The Canadian company Tiny, which acquired a 60% share in 2023, owns the majority of the company. Co-founders Matthew Buchanan and Karl von Randow own the remaining 40%.
The platform has a valuation of $250m and over 26 million users worldwide. Letterboxd has become a popular platform for young movie enthusiasts, with celebrities like Charli xcx and Martin Scorsese using the app. The platform's popularity has been helped by its Four Favorites video series, which features Hollywood A-listers discussing their most-loved movies.
The sale talks come as the platform continues to grow in popularity. Letterboxd has seen a surge of new users during the pandemic and has become a beloved community for movie enthusiasts. The company has been "floating" a valuation of $250m, according to reports. Other potential buyers include private equity companies TPG and Redbird, as well as Reddit co-founder Alexis Ohanian.
Sources
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