The story
Hastings and Randolph tested DVD-by-mail by posting a single disc to themselves. By Randolph's account, Blockbuster passed on buying them for $50M in 2000. Netflix moved to streaming, and Blockbuster went bankrupt.
No. 014 · 1997 · Scotts Valley
Netflix
Mailed one CD to test it. Later, killed Blockbuster.
Blockbuster got one store left
Make my startup a legend- 1 Two founders on a Santa Cruz commute.
- 2 The test: mail a single CD to yourself.
- 3 It arrives. Unscratched.
- 4 DVDs by mail. No late fees.
- 5 2000: they offer to sell to Blockbuster for $50M.
- 6 Blockbuster laughs them out of the room.
- 7 Then they stream it.
- 8 One store left. Bend, Oregon.
- Founders
- Reed Hastings and Marc Randolph
- Founded
- 1997, Scotts Valley
- What they do
- Streaming films and series.