fromFortune
1 day agoNetflix's $82.7 billion rags-to-riches story: How the a DVD-by-mail company swallowed Hollywood | Fortune
In 2000, Reed Hastings and Marc Randolph sat down across from John Antioco, then CEO of video rental giant Blockbuster, and pitched him on acquiring their still unprofitable DVD-by-mail startup, Netflix, which at the time had around 300,000 subscribers. But when they told him their price-$50 million and the chance to develop and run Blockbuster's online rental business-Antioco balked. It was a famously shortsighted business decision:
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