Increasing its popularity day by day, Netflix, the platform for watching series and movies, occupies a large place in social media with the productions it broadcasts. So, whose Netflix is it?
Although most of us think that Netflix is a company that was founded with the spread of the internet in the world, the company was actually founded in 1997 by Marc Rondolph and Reed Hastings. Marc Rondolph used to work as a marketing manager at Hastings' company, Pure Atria. The duo met in this way, and later signed on to bigger businesses and sold Pure Atria to Rational Software for $700 million. Thus, they made the biggest sale of Silicon Valley. The year they sold it, the idea for Netflix emerged.
Afterwards, the duo, who turned to the idea of leasing movies, first received an investment of 2.5 million dollars and entered the sector with a total capital of 16 million dollars. Netflix first started its operations in the United States by selling and renting DVDs. However, a year after the company was founded, it stopped selling DVDs because they wanted to focus on the DVD rental industry.
When they started selling on April 14, 1988, they had only 30 employees and 925 DVDs. Netflix introduced its monthly subscription system in 1999 and dropped its sole rental model. This gave rise to the idea of the main Netflix subscription service, which now serves in over 190 countries.
The company, which tried to grow with DVD rental by mail until 2007, entered the sector in which it would rise as of 2007. By offering the opportunity to watch movies over the Internet, Netflix began providing international service in 2010 by expanding to Canada, then Latin America and the Caribbean. As special content, he produced the first House of Cards in 2013.
Then, Netflix, which entered our country in 2016, can now be used in all countries except China, Iran, Syria, North Korea, Russia and Crimea. The company has 193 million users worldwide as of April 2020. The company, which borrowed heavily in 2016 and 2017 in order to serve the whole world, became the entertainment company with the highest market value as of 2020.