The social movie dialogue and discovery platform Letterboxd has a brand new proprietor.
The corporate has bought a majority stake (60 p.c) to Tiny, a Canadian expertise funding and holding firm, in a deal that values Letterboxd at about $50 million. Matthew Buchanan and Karl von Randow, who based the corporate in 2011, will proceed to steer it.
“Teaming up with Tiny represents an enormous leap ahead for us,” mentioned Buchanan and von Randow in a press release. “Tiny’s spectacular monitor file, which incorporates spurring the expansion of the thriving design neighborhood, Dribbble, speaks to their means to domesticate and develop companies like ours with out altering the elemental parts which have made them profitable. We see this as an enormous win for our neighborhood, enabling us to cement Letterboxd’s future with extra assets with out sacrificing the DNA of what makes it particular.”
Letterboxd has grow to be a well-liked platform for lovers of movie, and even filmmakers themselves, who use it to evaluate and advocate motion pictures, and share favourite movies or performances. Customers may also monitor what they’ve watched, and talk about them with different film lovers.
The corporate additionally operates a digital movie journal, and a podcast, and has partnered with Netflix and The Academy of Movement Image Arts & Sciences on initiatives.
In a weblog publish saying the deal, Buchanan and von Randow mentioned that they plan to deliver Letterboxd’s format to TV collection to the platform, however “solely as soon as we all know we will do it proper.”
“We’ve been enormous followers and customers of Letterboxd for a very long time and couldn’t be extra excited to affix forces with Matthew, Karl, and the remainder of the crew for the long-term,” provides Andrew Wilkinson, Co-founder of Tiny. Our goal is to make Letterboxd the final word vacation spot for anybody trying to uncover or talk about motion pictures on-line. In case you’re working out of issues to look at, it’s since you haven’t used Letterboxd but—and we consider that the potential for superior discovery is a big alternative.”