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

77 points · 38 comments · crossroadsguy

  1. reticulates · · focus · HN ↗
    I continue to be baffled by this sale. Letterboxd was acquired by Tiny 3 years ago, Tiny’s entire premise is that they hold for the long term. Selling after 3 years is not long term. I don’t understand why Tiny would undermine their raison d’etre unless it’s because the founders (who retain a minority stake) are pushing for it.

    Tiny just recently updated their website to emphasize how long they’ve owned each property which is especially confusing given they’re now offloading things <a href="https:&#x2F;&#x2F;tiny.com&#x2F;companies&#x2F;letterboxd" rel="nofollow">https:&#x2F;&#x2F;tiny.com&#x2F;companies&#x2F;letterboxd

    “Tiny&#x27;s model — long-term ownership, founder autonomy, no pressure to flip the company in three to five years — fit naturally.”

    …?

    1. dtagames · · focus · HN ↗
      Three years is long term in the tech and VC world.

      At a $300M sale, the project achieved its goal and it&#x27;s time to exit.

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