The New York Occasions Firm has reportedly “entered unique negotiations” to acquire Letterboxd for $330 million, in response to a report from The New York Occasions itself.
Letterboxd, a web based platform for film lovers that could possibly be in comparison with Goodreads for films, has grown dramatically in recent times. Letterboxd reported 3 million customers in January 2021, a determine that grew to twenty-eight million by April of this 12 months. Greater than half of its customers are underneath 35.
Letterboxd was previously reported to be looking for a brand new proprietor. In keeping with the Occasions, movie studios A24 and Sony have been within the acquisition, however A24 was priced out.
Letterboxd is free, however customers can entry superior options with a paid subscription. Its projected earnings for this 12 months are estimated at $15 million, which is simply about 4.5% of what the Occasions is supposedly providing to purchase the corporate for.
The New York Occasions Firm declined to touch upon the acquisition to its personal paper (lol). Personally, we wouldn’t be stunned if these nameless ideas have been coming from inside the home, so we’re inclined to take this report fairly severely.
