Leading New Zealand law firm, MinterEllisonRuddWatts has advised Tiny Fund on its acquisition of a 60% stake in Letterboxd Limited, an online film discovery and discussion platform.
A Canadian-based technology holding company, Tiny focuses primarily on investing and acquiring majority stakes in businesses that it expects to hold over the long-term. Tiny prides itself on providing its acquisition partners with the ability to grow through additional resources, while ensuring the organisations can continue without fundamentally changing their business models.
Letterboxd, a New Zealand-grown, free social media platform sits in the top 1,500 websites globally and recently surpassed 10 million members across more than 200 countries. Members gather on the platform to track what they watch, share reviews and watch lists, log and rate movies, and follow other like-minded cinephiles.
The acquisition will mean Letterboxd can continue to grow as an independently run company while achieving its objectives of establishing itself as the leading social network for film discussion and discovery.
Corporate Partner Mark Stuart led MinterEllisonRuddWatts’ team and said: “It’s always great to see our New Zealand grown businesses being recognised abroad as great investment opportunities. This investment acquisition by Tiny will support Letterboxd’s growth ambitions which is an excellent outcome.”
The MinterEllisonRuddWatts team advised on all New Zealand aspects of the transaction which included M&A, tax, employment, tax and intellectual property expertise. The law firm’s team included Partner Mark Stuart and Senior Associate Jasmin Matthews, supported by partners Andrew Ryan, Gillian Service, Steve Gallaugher and Christopher Young, senior associates Rob Penney and Zoe Barnes, senior solicitors Alice Chote and Louise Meng, and solicitor Tom Kennedy.
Canadian lawyers, Fasken Martineau DuMoulin LLP also advised Tiny on the transaction.
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