[Aurornis]

The TL;DR is that the VC/PE firm that owns 60% of Letterboxd is selling their stake in the company and some people are panicking because they don't want it purchased by a VC/PE firm.

There's a crowdfunding campaign trying to raise $100,000 to make an offer to buy the site for some public governance structure, with no explanation of how they're going to get the money to buy Letterboxd.

This could be interesting if the group asking for $100,000 had any plausible plan at all to fund their purchase, but if there is such a plan I can't find it.

[edoceo]

50 people, $2200 each, raise under Reg-CF? Just need the 50 people. Or if they are acredited then Reg504 or 506 and a Delaware LLC.

[zvr]

The $100K was for doing the work to make the offer to buy Letterbox.

This offer need to somehow include something like $160M.

The comment you're replying to pointed out that there is no explanation how this money will be raised. "50 people, $2200 each" does not cover it.