#Letterboxd, Film Discussion Platform, Sells to Investment Firm

The social film discussion and discovery platform Letterboxd has a new owner.

The company has sold a majority stake (60 percent) to Tiny, a Canadian technology investment and holding company, in a deal that values Letterboxd at about $50 million. Matthew Buchanan and Karl von Randow, who founded the company in 2011, will continue to lead it.

“Teaming up with Tiny represents a big leap forward for us,” said Buchanan and von Randow in a statement. “Tiny’s impressive track record, which includes spurring the growth of the thriving design community, Dribbble, speaks to their ability to cultivate and grow businesses like ours without altering the fundamental components that have made them successful. 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.”

Letterboxd has become a popular platform for lovers of film, and even filmmakers themselves, who use it to review and recommend movies, and share favorite films or performances. Users can also track what they have watched, and discuss them with other movie lovers.

The company also operates a digital film magazine, and a podcast, and has partnered with Netflix and The Academy of Motion Picture Arts & Sciences on projects.

In a blog post announcing the deal, Buchanan and von Randow said that they plan to bring Letterboxd’s format to TV series to the platform, but “only once we know we can do it right.”

“We’ve been huge fans and users of Letterboxd for a long time and could not be more excited to join forces with Matthew, Karl, and the rest of the team for the long-term,” adds Andrew Wilkinson, Co-founder of Tiny. Our aim is to make Letterboxd the ultimate destination for anyone looking to discover or discuss movies online. If you’re running out of things to watch, it’s because you haven’t used Letterboxd yet—and we believe that the potential for superior discovery is a large opportunity.”