Letterboxd, A Big Booster Of Indie Films, Is Acquired By Canadian Investment Firm Tiny

deadline.com:

Letterboxd, the global social platform that’s become a key tool for independent film discovery, promotion and conversation in the current challenging market for movies, is being acquired by Canadian technology holding company, Tiny, which is taking a majority stake.

Letterboxd’s founders will continue to lead the business independently while leveraging their partnership with Tiny to accelerate the platform’s growth as it continues to scale.

Founded in 2011 by film fans and Aukland, New Zealand-based tech executives Matthew Buchanan and Karl von Randow, Letterboxd has experienced significant growth over the past five years, recently surpassing 10 million members across 200+ countries – up from 4.1 million members in 2021 and 1.8 million in 2020.

Buchanan told Deadline in an interview last year that the company has been profitable since 2019, in part by capturing the attention of younger audiences aged 18 to 24 looking to connect online around shared interests.