Letterboxd, the social platform for movie buffs, is reportedly looking for a new owner

Letterboxd has risen in popularity in recent years. Once a Specialized site For only the most ardent movie nerds, the site — which allows users to rate, review and recommend movies to each other — has continued to add accounts in the tens of millions, This is largely thanks to the interest of Millennials and Generation Z. Now, it appears that the company’s controlling investor has announced that it is looking to cash out.

traffic lights Sunday reported that Canadian holding company Tiny, which owns about 60% of Letterboxd, has courted several potential buyers, including Versant, the parent company of CNBC and MS NOW (formerly MSNBC). Another potential buyer is The Ankler, a popular Hollywood news publication, according to Semaphore. Small in size He bought the platform in 2023, Its value is more than $50 million. It is unclear whether the company is close to any type of deal.

Representatives for Letterboxd and Tiny did not immediately provide comment when contacted by TechCrunch.

Letterboxd was founded in 2011 and has seen a Jump in users in the past few years, rising to about 26 million users this year, up from 1.7 million in 2020, According to the New York Times. In recent years, the site has become… He saw the benefit From film studios, which consider it a means of marketing films and a source of information about moviegoers’ trends, as well as from the Academy Awards, which has cooperated with the social media platform In digital content partnership Several years ago.