The Creation of Netflix

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Reed Hastings co-founded Netflix in 1997. He was an entrepreneur who in 1991 had founded Pure Software, which made tools for software developers. After 1995 IPO and several acquisitions, Pure was acquired by Rational Software in 1997. Marc Randolph is a overturn Silicon Valley entrepreneur, advisor, and investor. As co-founder and founding CEO of Netflix, he laid much of the groundwork for a service that's grown to 150 million subscribers and fundamentally later how the world experience media 

 For many people, Netflix is our go-to place for movie and TV streaming. Netflix was founded in August of 1997 by two serial entrepreneurs, Marc Randolph and Reed Hastings. The company began out in Scotts Valley, California. Netflix has grown to become one of the world's leading internet entertaining platforms. When Netflix opened it was only a movie rental service. You order movies on the Netflix website and delivered DVDs in the post. Today Netflix streams movies and has more than 151 million paid subscribers in over 190 countries around the world. In 2000, Netflix's CEO approached BlockBuster about a partnership. Unfortunately, the CEO looked at laughed. Now with Netflix's market cap of 209.74B and a share price of 476.89B, while Blockbuster is out of business. 

Over the course of 24 years, Netflix has changed the way we stream movies and tv. Americans are able to access movies, new and old directly from their home commercial-free. Netflix was first based as a DVD purchase only, with rentals being $4, with a $2 postage charge. Netflix is now based on subscriptions, allowing single and family accounts. In 2002 Netflix went public with a membership count of 60,000 in the US Netflix makes its initial public offering. The company celebrates 1 million accounts in 2003, this year Netflix hit a new record number with more than 1 million. Netflix went on to double in 2004, and double again in 2005 to 4.2 million members. Video streaming was introduced in 2007, called "Watch Now" which allows members to instantly watch television shows and movies on their personal computers. This was a huge shift in the company's business model. 

In 2009, Netflix partners with yet more consumer electronics to allow streaming on PS3, Internet-connected TV, and other internet-connected devices. Its member base expanded to 12 million by the end of the year. Netflix connects to Apple devices and expands into Canada in 2010. Netflix is available on the Apple iPad, iPhone, and iPod touch, also the Nintendo Wii. The year ends with more than 20 million subscribers on the books. In 2013, Netflix becomes an award-winning service 2013. They receive 31 prime-time Emmy nominations including outstanding drama series, comedy series, and documentary or nonfiction specials for "House of Cards", "Orange Is the New Black", and "The Square" respectively. Netflix was the first internet TV network nominated for the Primetime Emmy.

As Netflix continues to expand into Europe and Australasia, even more awards coming to Netflix. Netflix may even be bringing streaming services to a Tesla near you. What does the future hold for Netflix? Can other streaming services take over Netflix? They have prepared for these, they have spent $12 million building a library of original films and series, 88% higher than in 2017.  Netflix will continue to focus on its own content going forward, rather than streaming competitors. 

https://interestingengineering.com/the-fascinating-history-of-netflix



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