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Exciting news for anyone who’s already burned through the entirety of Netflix: There’s a new online movie rental platform coming to town. Letterboxd, the movie-tracking app and the preferred social media of your most insufferable film-loving friend, announced this week that the Letterboxd Video Store is on the way. The announcement was made Tuesday at the Cannes Film Festival. While the company hasnt revealed too many specifics just yet, we do know the upcoming streaming service will be called the Letterboxd Video Store and will feature curated shelves of handpicked titles. Like other services such as Prime Video, Apple TV, or Google Play, users will be able to rent films on demand or during specified release windows. But dont expect the usual lineup. These selections will be carefully curated by Letterboxd, spotlighting lesser-known films, emerging filmmakers, and titles from the festival circuit. By showcasing movies that haven’t yet secured wide distribution, Letterboxd aims to position its transactional video-on-demand (TVOD) service as a potential new path to audience connection for filmmakers and sales agents seeking visibility and momentum. Details around launch dates, availability by territory, and specific titles will be announced in the coming months. However, the company has confirmed that selections will be informed by behavioral insight drawn from its 20 million-strong community of dedicated film lovers. Launched in 2011, the platform, often dubbed the Goodreads for film, remained a niche hub for cinephiles for nearly a decade. By mid-2020, it had only 1.8 million members. Today, Letterboxd has gone fully mainstream. Top reviewers enjoy micro-celebrity status, its Four Favorites trend routinely goes viral on TikTok, and users gleefully speculate about celebrities burner accounts. Every day, we see members recommending films to each other, adding to their watch lists and hungry to discover more, Letterboxd CEO Matthew Buchanan said, per The Hollywood Reporter. Letterboxd Video Store is our way of delivering for those film lovers, creating a dedicated space for films that deserve an audience.
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E-Commerce
Stock in Coinbase (COIN), the largest U.S.-based cryptocurrency exchange, fell over 8% Thursday on news it was the victim of a cyberattack, in which hackers successfully bribed overseas contractors to leak important information so they could steal customer data. The company estimates it could cost $400 million to resolve the situation. While investors may be concerned, Coinbase customers undoubtedly are, too. Here’s what users of the crypto exchange need to know. What happened? Coinbase reported in a Securities and Exchange Commission (SEC) filing that on May 11, it received an email from an entity claiming to have obtained information about certain Coinbase customer accounts and internal Coinbase documentationincluding materials relating to customer-service and account-management systems. The filing said hackers sent an email threatening to publish customers’ personal data if Coinbase did not pay a $20 million ransom, which CEO Brian Armstrong confirmed on X was specifically for “$20 million in Bitcoin.” According to the SEC filing, Coinbase learned the cyber criminals obtained the data by paying off multiple overseas contractors or employees working in support roles. Once detected, Coinbase immediately terminated those involved. Coinbase said it did not pay the ransom and has been working with law enforcement to investigate the breach. It’s establishing a $20 million reward for information leading to the arrest and conviction of those responsible for the attack. Was my Coinbase password or private key leaked in the attack? No. The SEC filing said the data breach did not compromise customer passwords or private keys. Were my Coinbase funds exposed in the attack? According to the SEC filing, neither “targeted contractors” nor “employees” were able to access customer funds. What about Coinbase customer data like my email, address, and phone number? Yes, according to Coinbase’s blog, the following personal information was compromised: Name, address, phone, and email Masked Social Security (last 4 digits only) Masked bankaccount numbers and some bank account identifiers GovernmentID images (e.g., drivers license, passport) Account data (balance snapshots and transaction history) Limited corporate data (including documents, training material, and communications available to support agents) How can I protect myself? Coinbase told Fast Company: “Expect imposters. Scammersrelated to this incident or notmay pose as Coinbase employees and try to pressure you into moving your funds.” Additionally, the company outlined what customers can do in this post. What should I do if I receive a phone call, text, or request from Coinbase? A Coinbase spokesperson told Fast Company, “if you receive this call, hang up the phone. Coinbase will never ask you to contact an unknown number to reach us.” Again, remember, Coinbase will never call or text, or ask for your password or 2FA codes, or for you to transfer assets to a specific or new address, account, vault, or wallet. I think my Coinbase information was leaked in the cyberattack. What should I do? Coinbase said it will reimburse customers who were tricked into sending funds to the attacker due to social engineering attacks. If your data was accessed, you should have already received an email; notifications were sent Wednesday, May 15 at 7:20 a.m. ET to affected customers. Flagged accounts now require additional ID checks on large withdrawals and include mandatory scamawareness prompts. As Coinbase monitors high-risk transactions, customers may experience delays. The company said it is opening a new support hub in the U.S., adding stronger security controls, and monitoring across all locations, and will keep the community updated as the investigation progresses.
Category:
E-Commerce
Noodles & Company, the fast-casual chain known for serving an array of noodle-based dishes, will shutter up to 21 restaurants.The brand, founded in Denver, Colorado in 1995, has already closed at least nine locations over the past year. In a conference call last week, chief financial officer Michael Hynes said, “We expect to close 13 to 17 company-owned and four franchise restaurants in 2025.” The most recent count is up from a previous estimate of 12 to 15 company-owned closures. Noodles & Company currently has 380 company-owned restaurants and 89 franchised locations in 31 states. According to the brand’s website, the impending closures are due to higher food costs and increased marketing expenses. Recently, Noodles & Company revamped its menu and, according to QSR, saw revenue tick upward, rising 2% in the first quarter, with same-store sales increasing 4.4% and a 4.7% gain at company-owned locations. And despite the looming closures, Noodles & Company maintains a positive outlook. In a May 7 press release announcing first-quarter financial results, chief executive officer Drew Madsen explained that the company has actually been growing. We are very pleased with the strong comparable restaurant sales and traffic performance we achieved during the first quarter despite a challenging macroeconomic environment, Madsen said. Our momentum is being driven by our fully reimagined new menu that launched on March 12, supported by increased marketing investment and a new brand strategy. Since the new menu introduction, comparable sales have increased by approximately 5% through April. Nation’s Restaurant News also reported that according to documents filed with the Securities and Exchange Commission, Noodles & Company is opening at least two new restaurants this year. Fast-casual restaurants have been struggling amid higher food costs and slower foot traffic. In 2024, TGI Fridays, Bloomin Brands, Hooters, and Dennys all closed underperforming locations, while other chains like BurgerFi, Red Lobster, and Sticky Fingers filed for bankruptcy. Most recently, fast-casual and fast-food chains Chipotle and McDonald’s have seen weaker sales. Noodles & Company has not released a list of the closing restaurant locations and did not immediately respond to a Fast Company inquiry.
Category:
E-Commerce
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