Letterboxd users attempt to pool money to buy platform

Letterboxd users are trying to put the future of their beloved film-centric platform into their own hands. For months, Tiny, the Canadian holding company with a controlling stake in Letterboxd, has been shopping the user-focused social media platform around to interested parties. And there are plenty of interested parties, to say the least. The potential sale has sent users into a frenzy—and who could blame them, especially amid the near-complete merger of Paramount Skydance and Warner Bros. Discovery and what the last few years have done to Twitter. Now, Intrinsic Entertainment Collaborative, a public benefit company, has launched a grassroots campaign called Letterboxd4All to rally the Letterboxd community to buy the majority stake by making a minimum $100 investment for equity ownership on Wefunder or donating $1 or more through GoFundMe. “The valuation of Letterboxd reflects the years of creative labor users have contributed to building the platform,” Elizabeth Joyce, founder of Intrinsic, told TheWrap. “Our campaign is a reflection of people’s frustration at seeing value extracted from their communities. Our model offers communities the chance to be the owner, not the product.”