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Jul 10 at 01:56 PM
$Netflix(NFLX.US) There are reports coming out to say that Netflix is interested and sizing up a bid to purchase Letterboxd. Letterboxd, founded in 2011, has been shopping itself to interested parties in recent months. The app and website (which also recently launched an online video-rental service) is majority-owned by Canadian holding company Tiny, which acquired a 60% stake in Letterboxd in 2023 at a valuation of $50 million-$60 million. If true, I won't be surprise as Netflix has been trying to complete a M&A for months now. With the earnings coming up in 2 weeks, I would be interested to hear more about their long term planning. @Captain's Treasure
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