Profile: Netflix was founded in 1997 by Reed Hastings and Marc Randolph in Scotts Valley, California.Reed Hastings and Marc Randolph had an idea to rent DVDs by mail. They tested the concept by mailing themselves a DVD. The DVD arrived intact, and the idea for Netflix was born.
On May 23, 2002, Netflix’s stock began trading on the Nasdaq. Its stock was first sold at an initial public offering (IPO) price of $15 per share. Today, the company’s market cap is about $221.0 billion.
Today, Netflix is the world’s leading streaming entertainment service with over 195 million paid memberships in over 190 countries enjoying TV series, documentaries, and feature films across a wide variety of genres and languages.
Members can watch as much as they want, anytime, anywhere, on any internet-connected screen. Members can play, pause and resume watching, all without commercials or commitments.
Netflix also offers a subscription DVD-by-mail service to customers residing in the U.S. Netflix has posted large increases in paid subscribers, net income, revenue, and market value as millions of consumers have boosted viewership at home amid the global COVID-19 crisis.
Top Executives: Reed Hastings is the Founder and Co-CEO and Ted Sarandos is the Co-CEO.
Top Shareholders: Institutional investors hold the majority of Netflix’s shares at about 83% of total shares outstanding.
• Leslie Kilgore owns a total of 35,196 Netflix shares, representing 0.02% of the company’s total shares outstanding.
• Capital Research Global Investors owns 37.9 million shares of Netflix, representing 8.6% of total shares outstanding.
• Vanguard Group owns 34.1 million shares of Netflix, representing 7.8% of total shares outstanding.
Sales: Netflix added 2.2 million paid subscribers during the third quarter of 2020, Netflix reported 195.15 million paid streaming customers worldwide, up 23.3% year over year.
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