Letterboxd has gained significant popularity recently. Initially a niche platform for film enthusiasts, the site — which enables users to rate, review, and recommend movies — has seen user accounts grow by tens of millions, driven mainly by Millennials and Gen-Z interest. The company’s main investor is reportedly seeking to sell its stake.
Semafor reported on Sunday that Canadian holding company Tiny, which owns about 60 percent of Letterboxd, has been in discussions with potential buyers, including Versant, the parent company of CNBC and MS NOW (previously MSNBC). Another interested party is The Ankler, a popular newsletter in Hollywood, according to Semafor. Tiny acquired the platform in 2023, valuing it at over $50 million. It’s uncertain if any deal is close to completion.
Representatives for Letterboxd and Tiny did not respond immediately to TechCrunch’s request for comment.
Founded in 2011, Letterboxd experienced a surge in users in recent years, reaching approximately 26 million users this year, up from 1.7 million in 2020, according to The New York Times. Recently, the site attracted interest from movie studios for marketing films and gaining insights into audience trends. The Oscars also collaborated with the platform in a digital content partnership some years back.