"On Thursday, Netflix announced plans to acquire Warner Bros.home to franchises like Dune, Harry Potter, and DC Universe, along with streamer HBO Maxin a total enterprise value deal of $83 billion. The move is set to cement Netflix as a media juggernaut that now rivals the legacy Hollywood giants it once disrupted. It's a remarkable trajectory for Netflix's cofounder, Hastingsa self-made billionaire who found a love for business starting as a teenage door-to-door salesperson."
"I took a year off between high school and college and sold Rainbow vacuum cleaners door to door, Hastings recalled to The New York Timesin 2006. I started it as a summer job and found I liked it. As a sales pitch, I cleaned the carpet with the vacuum the customer had and then cleaned it with the Rainbow. That scrappy sales job was the first exposure to how to properly read customersan instinct that would later shape Netflix's user-obsessed culture."
Netflix announced plans to acquire Warner Bros. and HBO Max in an $83 billion enterprise-value deal that includes franchises such as Dune, Harry Potter, and the DC Universe. The acquisition positions Netflix to rival legacy Hollywood studios and expands its global content library. Reed Hastings began his career selling Rainbow vacuum cleaners door-to-door, served in the Peace Corps teaching math in Eswatini, and earned a master's in computer science from Stanford before entering tech. Hastings conceived Netflix after a late-fee incident with Blockbuster and built the company into a global streamer. Hastings stepped down as CEO in 2023, now chairs Netflix, and has a net worth around $5.6 billion.
Read at fortune.com
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