Letterboxd Acquired by Canadian Firm

Social film discussion platform Letterboxd has been sold. According to Variety, the popular site has been acquired by Canadian holding company Tiny for more than $50 million. Letterboxd was founded in 2011 in New Zealand by Matthew Buchanan and Karl von Randow and has more than 10 million registered accounts. According to the report, Buchanan and von Randow will continue to lead the company.

"Teaming up with Tiny represents a big leap forward for us," Buchanan and von Randow said in a statement. "We see this as a huge win for our community, enabling us to cement Letterboxd's future with additional resources without sacrificing the DNA of what makes it special."

We've been huge fans and users of Letterboxd for a long time and could not be more excited to join forces with Matt, Karl and the rest of the team for the long-term" Tiny co-founder Andrew Wilkinson said. "Our aim is to make Letterboxd the ultimate destination for anyone looking to discover or discuss movies online… and we believe the untapped market potential for superior discovery and discussion is a huge opportunity."

Movie fans can use Letterboxd to review and recommend films as well as share favorite films and performances. The site also allows users to track and catalog the films they have watched as well as discuss with other users on the site.

Letterboxd has grown in popularity in recent years, particularly during the COVID-19 pandemic. The site is also used by various celebrities, including Barbie star Margot Robbie, filmmakers Christopher McQuarrie and Ava DuVernay, and more. In addition to the site, Letterboxd also has a digital film magazine and a podcast and according to Buchanan an von Randow have plans to bring the format to television series rather than just films but won't do so until "we know we can do it right".

What do you think about Letterboxd being acquired by Tiny? Let us know your thoughts in the comment section.