Karanveer Savech

 Reed Hastings opens up Netflix.  He put a free trial of Netflix in every mailbox.  Stared his first company called Pure Software  Stock market opened at $17 and closed at $29.95  He sold his company for $750 million two years later.  Launched Netflix in 1998 for renting DVD’s online.  Partnered with Blockbuster

 Netflix went public in 2002  Stocks grew by 16%Walmart gave Netflix their DVD customers in exchange for promoting Walmart.  In 2008 Blockbuster gave up on online dvd rentals because they lost 100’s of million dollars.  Hastings went from dvd to online streaming.  Added 11k titles in 2 years  20 million subscribers in 2011  Streamed movies to other electronics other than Pc

 Raised fees by 60% in 2011  People unsubscribed to Netflix after prices were raised by 60%  In 2012 Netflix began development of original content for its platform  By April 23, 2013 after success of House of cards Netflix gave subscription to HBO

 Reed Hastings owns Netflix.  He was born in Boston in the 60’s.  He served in the military  He got a masters in computer science.  He was born is a middle class family.

 He lost his seat at the state school board.  In 2008 Blockbuster gave up on online dvd rentals because they lost 100’s of million dollars.  Hastings went from DVD to online streaming.  Stared his first company called Pure Software  He started working at California State Board of Education.  Had to lay off a third of the company.

 The main competitors were Netflix, Blockbuster and also Walmart.  The suppliers of online content are Sony, Fox, and universal Ent.  There are no more DVD rentals. Everything got switched over to online streaming.