Letterboxd, the social media platform dedicated to film enthusiasts, has undergone a change in ownership. On Friday, cofounder Matthew Buchanan announced that venture capital firm Tiny has acquired a 60 percent stake in the platform. According to The New York Times, the deal places Letterboxd’s valuation at over $50 million. Buchanan and fellow founder Karl von Randow will retain minority shareholder positions and will continue to lead the company, assuring users that “very little else will change.”
