It took 5 Years for Netflix to go Public from Ince
Post# of 96879
Posted On: 05/28/2015 10:55:54 AM
It took 5 Years for Netflix to go Public from Inception:
Netflix was founded in 1997 in Scotts Valley, California by Marc Randolph[20][21] and Reed Hastings, who previously had worked together at Pure Software. Randolph was a co-founder of MicroWarehouse, a computer mail order company; and was later employed by Borland International as vice president of marketing. Hastings, who once worked as a math teacher, had founded Pure Software, which he had recently sold for $700 million. Hastings invested $2.5 million in startup cash for Netflix.[22] The idea of Netflix came to Hastings when he was forced to pay $40 in overdue fines after returning Apollo 13 well past its due date.[23] The Netflix website was launched on August 29, 1997[24] with only 30 employees and 925 works available for rent through a traditional pay-per-rental model (50¢US per rental U.S. postage; late fees applied).[25] Netflix introduced the monthly subscription concept in September 1999,[26] and then dropped the single-rental model in early 2000. Since that time, the company has built its reputation on the business model of flat-fee unlimited rentals without due dates, late fees, shipping and handling fees, or per title rental fees.
In 2000, Netflix was offered for acquisition to Blockbuster for $50 million, however Blockbuster declined the offer.[27] Netflix initiated an initial public offering (IPO) on May 29, 2002, selling 5.5 million shares of common stock at the price of US$15.00 per share. On June 14, 2002, the company sold an additional 825,000 shares of common stock at the same price. After incurring substantial losses during its first few years, Netflix posted its first profit during fiscal year 2003, earning US$6.5 million profit on revenues of US$272 million. In 2005, 35,000 different film titles were available, and Netflix shipped 1 million DVDs out every day.
THe shorts want to cripple UltraFlix before they Hit the ground running.
I believe Netflix see's UltraFlix as a threat.
Looks like the battle is heating up now between NFLX and UFLX.
UFLX has just got to hang in there.
They would never let me put this information on the Basher Board, si I am bringing it here.
This will take some more Patience to bear Fruition.
http://en.wikipedia.org/wiki/Netflix
Netflix was founded in 1997 in Scotts Valley, California by Marc Randolph[20][21] and Reed Hastings, who previously had worked together at Pure Software. Randolph was a co-founder of MicroWarehouse, a computer mail order company; and was later employed by Borland International as vice president of marketing. Hastings, who once worked as a math teacher, had founded Pure Software, which he had recently sold for $700 million. Hastings invested $2.5 million in startup cash for Netflix.[22] The idea of Netflix came to Hastings when he was forced to pay $40 in overdue fines after returning Apollo 13 well past its due date.[23] The Netflix website was launched on August 29, 1997[24] with only 30 employees and 925 works available for rent through a traditional pay-per-rental model (50¢US per rental U.S. postage; late fees applied).[25] Netflix introduced the monthly subscription concept in September 1999,[26] and then dropped the single-rental model in early 2000. Since that time, the company has built its reputation on the business model of flat-fee unlimited rentals without due dates, late fees, shipping and handling fees, or per title rental fees.
In 2000, Netflix was offered for acquisition to Blockbuster for $50 million, however Blockbuster declined the offer.[27] Netflix initiated an initial public offering (IPO) on May 29, 2002, selling 5.5 million shares of common stock at the price of US$15.00 per share. On June 14, 2002, the company sold an additional 825,000 shares of common stock at the same price. After incurring substantial losses during its first few years, Netflix posted its first profit during fiscal year 2003, earning US$6.5 million profit on revenues of US$272 million. In 2005, 35,000 different film titles were available, and Netflix shipped 1 million DVDs out every day.
THe shorts want to cripple UltraFlix before they Hit the ground running.
I believe Netflix see's UltraFlix as a threat.
Looks like the battle is heating up now between NFLX and UFLX.
UFLX has just got to hang in there.
They would never let me put this information on the Basher Board, si I am bringing it here.
This will take some more Patience to bear Fruition.
http://en.wikipedia.org/wiki/Netflix
(0)
(0)Nanotech Entertainment Inc. (NTEK) Stock Research Links
Scroll down for more posts ▼