Netflix started out as a small rival to video stores by mailing out movies, right to your home. It was hard to imagine that in just a short time they would take down most of the big companies they were up against. Now they rule the streaming game! Jimmy Rhoades has five things you didn’t know about the entertainment giant.
1. Great Idea
The founder, Reed Hastings got the idea for the company in 1997, when he was charged $40 for a late VHS copy of Apollo 13. He was upset about it and when he later went to work out, he realized he liked the gym's monthly fee policy much more.
2. In Your Head
They are obsessed with figuring out if you like one thing, what will you like next? They use an algorithm called Netflix Quantum Theory and constantly monitor other websites to decide what to add to their library. Early research involved executives bringing coffee to the houses of local subscribers so they could watch them use the website and see how they picked titles.
3. Strange Streaming
The first video content they ever streamed was a bizarre 11-minute test film they made called Example Show.
4. Job Perks
Their unorthodox management style focuses on the freedom and responsibility, and allows workers as many days off as they want. They offer generous severance packages so managers won't feel guilty about letting an average employee go to replace them with someone extraordinary.
5. R.I.P. Blockbuster
Back in 2000, Blockbuster Video could have bought Netflix for $50 million, but declined. Netflix is now worth billions.
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