![]() ![]() Fearing competition from Amazon, Randolph at first thought the offer was fair, but Hastings, who owned 70% of the company, turned it down on the plane ride home. Randolph and Hastings met with Jeff Bezos, where Amazon offered to acquire Netflix for between $14 and $16 million. 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. 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 co-founder 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. Will you follow the WWE’s Monday Night Raw to Netflix? Sound off in Comments.Fourth 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 Executive Chairman That same month, NXT will leave USA Network and move to The CW. As previously reported, Friday Night SmackDown will leave Fox and return to USA Network in October. The weekly, three-hour show has helped launched the careers of Dwayne “The Rock” Johnson, “Stone Cold” Steve Austin, Triple H, John Cena, Roman Reigns, Bianca Belair and Charlotte Flair.įor those keeping track at home, this is the third major WWE deal announced in four months. Monday Night Raw first launched 31 years ago and has aired more than 1,600 episodes to date. Raw is the best of sports entertainment, blending great characters and storytelling with live action 52 weeks a year and we’re thrilled to be in this long-term partnership with WWE.” By combining our reach, recommendations, and fandom with WWE, we’ll be able to deliver more joy and value for their audiences and our members. Adds Netflix CCO Bela Bajaria: “We are excited to have WWE Raw, with its huge and passionate multigenerational fan base, on Netflix. ![]()
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