Netflix went public fifteen years back. Though how the c0-founders came up with the idea for the revolutionary entertainment service is still not proper.
Actually, CEO Reed Hastings said to several outlets and told that he got the idea for Netflix after Blackbuster has made him pay $40 late fee for “Apollo 13”.
Randolph claims the company was initiate when he and Hasting decided they wanted to create “The Amazon.com of something” in nineteens, The Washington Post reported.
They decided on transfer DVDs because customers wanted to buy them online and they were very strong to mail.
Since they couldn’t get a DVD which was a new technology at that time- they mailed a cd a few blocks to watch how it would hold up when it comes in one piece, they took aim to initiate Netflix.
Though the story of Hasting has changed many times. This year, at the mobile world congress in Barcelona, Spain, he got the idea stemmed from a math problem about the bandwidth of a station wagon carrying tapes.
To stop such a problem, a person would have to find out how many tapes could hold and how to test the car could get to a given location.
It makes Hasting search about how much data a DVD could hold and how quickly you could disseminate that information through the mail, he said. Gradually, he thinks that the internet would make it happen to serve things faster.
Here, Hasting used to always been vocal about his belief in transferring video.
In a piece for inc in the year of 2005, Hasting said the company was making ready itself for an internet-based future. Though he also said he thought Netflix had at least a decade left of dominating DVDs.