Tiny (TSXV: TINY), a Victoria, Canada-based technology holding company, announced majority acquisition of Letterboxd, a New Zealand-based global social platform for film discovery and discussion.
The amount of the deal was not disclosed.
The investment was completed through Tiny Fund I, LP, the company’s private partnership, and will help accelerate critical product advancements, such as community-requested features and expansions to Letterboxd’s media suite.
Founded in 2011 by Matthew Buchanan and Karl von Randow, Letterboxd provides a social platform for film discovery and discussion that has experienced a growth over the past 5 years, climbing into the top 1,500 websites globally and recently surpassing 10 million members across 200+ countries. The company has captured the attention of audiences, particularly those aged 18 to 24, who are looking for more meaningful ways to connect online around shared interests.
Tiny is an investment company focused primarily on investing and acquiring majority stakes in businesses that it expects to hold over the long-term. It is structured to give flexibility to operating management teams by maintaining a focus at the parent company level on only three areas: capital allocation, management, and incentives. This structure enables each company to run independently and focus on what they do best, within an incentive structure that is designed to drive results for both the operating business and ultimately for Tiny and its shareholders.
FinSMEs
29/09/2023