Tiny Announces Majority Acquisition of Letterboxd
Summary
A rare independent social network, Letterboxd has captured the attention of younger audiences, particularly those aged 18 to 24, who are looking for more meaningful ways to connect online around shared interests. Tinys impressive track record, which includes spurring the growth of the thriving design community, Dribbble, speaks to their ability to cultivate and grow businesses like ours without altering the fundamental components that have made them successful. We see this as a huge win for our community, enabling us to cement Letterboxds future with additional resources without sacrificing the DNA of what makes it special.Weve been huge fans and users of Letterboxd for a long time and could not be more excited to join forces with Matthew, Karl, and the rest of the team for the long-term, added Andrew Wilkinson, Co-founder of Tiny. This structure enables each company to run independently and focus on what they do best, within an incentive structure that is designed to drive results for both the operating business and ultimately for Tiny and its shareholders.Tiny currently has three principle reporting segments: Digital Services, which provides design, engineering, brand positioning and marketing services to help companies of all sizes deliver premium web and mobile products; E-Commerce Platform, which is home to a complementary portfolio of recurring revenue software businesses that support merchants, as well as digital themes businesses that sell templates to Shopify merchants; and Creative Platform, which is comprised primarily of Dribbble, the leading social network for designers and digital creatives, as well as a premier online marketplace for digital assets such as fonts and templates.For more information, please visit www.tiny.com or refer to the public disclosure documents available under Tinys SEDAR+ profile at www.sedarplus.ca.This press release contains statements which constitute forward-looking statements and forward-looking information within the meaning of applicable securities laws (collectively, forward-looking statements), including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company.Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: the receipt of the approval of the TSX Venture Exchange for the completion of the Private Placement; credit, liquidity and additional financing risks for the Company; stock market volatility; changes in e-commerce industry growth and trends; changes in the business activities, focus and plans of the Company; changes in general economic, business and political conditions, including challenging global financial conditions and the impact of the novel coronavirus pandemic; competition risks; potential conflicts of interest; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation; the risks and uncertainties associated with foreign markets; and the other risk factors more fully described in the Companys most recent MD&A as well as the list of risk factors in the Companys management information circular dated March 6, 2023 available on SEDAR+ at https://www.sedarplus.ca under the Companys profile.Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.