Netflix reportedly among parties in talks to buy Letterboxd
Summary
Letterboxd, a popular movie-focused social platform, is in talks with several companies, including Netflix, about a possible sale. The app, valued at about $250 million, has over 26 million users and is owned mostly by Tiny, a Canadian company, with the founders holding the rest.Key Facts
- Letterboxd is a social platform where users review and share movies.
- It has over 26 million users worldwide, mostly aged 18 to 35.
- The app is owned 60% by Tiny and 40% by its co-founders, Matthew Buchanan and Karl von Randow.
- Letterboxd is reportedly valued around $250 million.
- Potential buyers include Netflix, Sony Pictures, Paramount, private equity firms TPG and Redbird, and Reddit co-founder Alexis Ohanian.
- Tiny has also talked to Versant, owned by Comcast, about buying Letterboxd.
- The app launched a video rental store for hard-to-find arthouse films in December.
- Letterboxd’s appeal comes partly from its simple design, focusing only on movies without messaging or photo sharing.
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