Letterboxd, the social platform for film buffs, reportedly taking a view for mark modern owner

In Short

Letterboxd has surged in reputation in present years. As soon as a niche situation for handiest basically the most racy of film nerds, the positioning — which permits customers to payment, overview, and recommend motion footage to 1 one more — has continued so to add accounts by the tens of hundreds of thousands, thanks largely to passion from millennials and Gen Z. Now, the firm’s controlling investor has it sounds as if made it known that they are taking a view to cash out.

Semafor reported Sunday that Canadian keeping firm Dinky, which owns some 60% of Letterboxd, has been relationship varied doable investors, along side Versant, the guardian firm of CNBC and MS NOW (previously MSNBC). Some other doable buyer is The Ankler, a most smartly-liked Hollywood newsletter, in step with Semafor. Dinky supplied the platform in 2023, valuing it at over $50 million. It’s unclear whether the firm has neared any kind of deal.

Representatives for Letterboxd and Dinky did no longer without prolong present comment when reached by TechCrunch.

Primarily based in 2011, Letterboxd observed a jump in customers within the previous few years, hiking to about 26 million customers this year, up from 1.7 million in 2020, in step with The New York Events. In present years, the positioning has considered passion from movie studios, which seek it both as a car for marketing motion footage and a source of information about moviegoer traits, along with from the Oscars, which teamed up with the social platform in a digital assert partnership several years ago.

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