Letterboxd Is Up for Sale, and A24, Sony and the New York Times Are Bidding

The New York Times, A24, and Sony Pictures are bidding over $300 million to acquire Letterboxd. The film-focused social platform, founded in 2011 by Matthew Buchanan and Karl von Randow, currently serves 30 million users. This valuation represents approximately 20 times the company's projected $15 million annual earnings driven by subscription tiers and advertising.