Netflix launched as the first DVD rental and sales website with 30 employees and 925 titles available-nearly all DVDs published. Hastings invested $2.5 million into Netflix from the sale of Pure Atria. Hastings is often quoted saying that he decided to start Netflix after being fined $40 at a Blockbuster store for being late to return a copy of Apollo 13, a claim since repudiated by Randolph. When the disc arrived intact, they decided to enter the $16 billion Home-video sales and rental industry. When they heard about DVDs, first introduced in the United States in early 1997, they tested the concept of selling or renting DVDs by mail by mailing a compact disc to Hastings's house in Santa Cruz. Hastings and Randolph considered and rejected selling and renting VHS as too expensive to stock and too delicate to ship. Randolph admired Amazon and wanted to find a large category of portable items to sell over the Internet using a similar model. Patty McCord, later head of human resources at Netflix, was also in the carpool group. Hastings and Randolph came up with the idea for Netflix while Carpooling between their homes in Santa Cruz, California, and Pure Atria's headquarters in Sunnyvale. He was previously a co-founder of MicroWarehouse, a computer mail-order company as well as vice president of marketing for Borland. Randolph had worked as a marketing director for Pure Software after Pure Atria acquired a company where Randolph worked. Hastings, a computer scientist and mathematician, was a cofounder of Pure Software, which was acquired by Rational Software that year for $750 million, the then biggest acquisition in Silicon Valley history. Netflix was founded by Marc Randolph and Reed Hastings on August 29, 1997, in Scotts Valley, California. įourth and current logo, used since 2014 Launch as a mail-based rental business (1997–2006) Marc Randolph, co-founder of Netflix and the first CEO of the company Reed Hastings, co-founder and the current chairman and CEO The company has production hubs in Los Angeles, Albuquerque, London, Madrid, Vancouver and Toronto. It also operates international offices in Asia, Europe and Latin America including in Canada, France, Brazil, the Netherlands, India, Italy, Japan, Poland, South Korea and the United Kingdom. Netflix is headquartered in Los Gatos, California, in Santa Clara County, with the two CEOs, Greg Peters and Ted Sarandos, split between Los Gatos and Los Angeles, respectively. During the 2010s, Netflix was the top-performing stock in the S&P 500 stock market index, with a total return of 3,693%. In 2021, Netflix was ranked as the eighth-most trusted brand globally by Morning Consult. It is the second largest entertainment/media company by market capitalization as of February 2022. The company is ranked 117th on the Fortune 500 and 219th on the Forbes Global 2000. In 2011, the service began to acquire and produce original content, beginning with the political drama House of Cards. The company expanded to Canada in 2010, followed by Latin America and the Caribbean. In 2007, Netflix introduced streaming media and video on demand. Netflix initially both sold and rented DVDs by mail, but the sales were eliminated within a year to focus on the DVD rental business. Netflix is also the first (as so far only) streaming media company to be a member of the Motion Picture Association. It owns and operates an eponymous over-the-top subscription video on-demand service, which showcases acquired and original programming as well as third-party content licensed from other production companies and distributors. is an American media company founded in 1997 by Reed Hastings and Marc Randolph in Scotts Valley, California and currently based in Los Gatos, California. Plus, students who love a saving should take a look at the best university tech essentials.Netflix, Inc. Need something to watch Disney Plus on? Check out the best laptop deals. Sign up to Disney Plus from just £4.99 a month You'll still be able to access all the premium features, such as streaming on four devices, downloading your favourite content on four devices and getting up to 4K UHD picture, if you sign up to the Premium plan for £10.99 a month. The Standard plan has all the benefits of the Standard with Ads plan, plus ad-free viewing and downloadable content across two devices for £7.99 a month. The Standard with Ads plan costs £4.99 a month and gives you access to 1080p Disney content to stream across two devices simultaneously however, you will have adverts and be unable to download content to watch offline. Have you heard the news? No, not the wolf cry to the blue corn moon- Disney Plus has announced two brand new plans, allowing you to snag a membership for only £4.99 a month. You can now get Disney Plus for only £4.99 a month
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