![]() ![]() Its first show is Lilyhammer, followed by House of Cards in 2013. Reed reverses the unpopular decision in less than a month after 800,000 subscribers abandon Netflix.Ģ012: Netflix starts making original shows. We are now a streaming company which also offers DVD by mail."Ģ011: Netflix splits its streaming business and its DVD rental business into two distinct subscription packages: Netflix for streaming and Qwikster for DVD rentals. Reed tells investors, "Three years ago we were a DVD by-mail company that offered some streaming. The service launches with 1,000 titles and is included free in Netflix's $5.99 per month physical DVD subscription tier.Ģ010: Netflix changes its focus to streaming and introduces it to the United States. Subscribers rise to 6.3 million.Ģ007: Netflix begins streaming content, delivering directly to TVs, computers, and tablets through its Watch Now service. Netflix opens regional warehouses, bringing overnight delivery in response to subscriber complaints that it took too long to get their DVDs.Ģ003: Marc Randolph leaves Netflix and sells his shares.Ģ006: Netflix finally becomes profitable, generating more than $80 million. Reed has 500,000 shares, and Marc has 166,000 shares. The IPO raises $82.1 million and values Netflix at $309.7 million. During the meeting, John turns him down and laughs at Reed and the Netflix team.Ģ001: Netflix hits one million subscribers and continues to grow.Ģ002: Netflix goes public in May. After a meeting between Marc and Sony goes bad, and growth becomes sluggish, Reed demotes Marc to President and takes over as CEO.Ģ000: Reed Hastings approaches former Blockbuster CEO John Antioco and asks him to buy Netflix for $50 million. Netflix's video library expands to 3,100 titles. At the end of the first day, they booked 137 orders.ġ999: 239,000 subscribers sign up. Within 15 minutes, the website crashes as other orders start coming in, forcing them to run to the store to buy more servers. ![]() Marc orders the movie Casino as a test, and it works. The video library has approximately 900 titles. The service is called Kibble in beta testing, a kind of dog food, to remind the team of the old advertising adage that "It doesn't matter how good your dog food advertising campaign is if the dogs won't eat the dog food."Īpril 14, 1998: The website launches as Netflix at 9 am. August 29, 1997: Netflix is registered in Scotts Valley, California. ![]()
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