Netflix / Brand Stories

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Hastings, a computer scientist and mathematician, sold Pure Atria to the Rational Software Corporation for $700 million in 1997, making it the highest sale in Silicon Valley history; his partner, Reed Hastings, receives a $2,500,000 investment from Randolph mother and Integrity QA founder Steve Kahn.They liked the new e-commerce company Amazon at that time and wanted to use a similar model.They think it would be nice to start out with a movie rental and sales business first. But they give up because VHS tapes are too expensive to stock and too delicate to mail.

When they heard of DVDs available in only a few markets in 1997, they tested it by mailing a compact disc to Hastings' home in Santa Cruz, deciding to use the concept of DVD sales and rentals when the disc arrived intact, coming up with the idea for Netflix. They enter the industry with an investment of $16 million.

In 2007, Netflix began offering streaming movies via its video streaming service, but also continued its DVD and Blu-ray rental business.

In 2010, it began serving internationally, expanding to Canada and then Latin America and the Caribbean.

In 2013, he started producing content with his first TV series called House of Cards.

As of April 2020, Netflix, which has 193 million paid subscribers worldwide and 73 million in the USA, both producing and distributing content in many countries of the world, continues to grow with innovations day by day.

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