Remember that great service Netflix? Netflix busted on the scene in 1997 out of Los Gatos, California, the pride and joy of co-founder/CEO Reed Hastings. In the early days Netflix introduced a, subscription based, rent by mail service that change the rental game forever.
The days of late fees were over and a new DVD rental company king was crown, forcing companies such as Blockbuster and Hollywood Video into a crippling downward economic spiral. In it’s hay day Netflix was shipping out over 600,00+ DVD’s a month.
In 2007 after announcing their 1 billionth DVD delivery Netflix introduced “Instant Queue”. For an elevated monthly fee this service allowed subscribers to stream 1,000′s of their favorite movies and shows live from their personal computer. Instant queue was the catalyst that sky rocketed Netflix to the next level. By March 2010 the services had amounted a vast empire of over 14 million subscribers and was hailed as one of the most successful companies of the dot.com era.
Sadly in 2011 Netflix committed economic suicide by announcing their rebranding vision. They intended to keep the online streaming service under Netflix , but outsource the home DVD rental service to a new company named Qwikster.
Little did Mr Hastings know that this announcing would destroy an empire 15 years in the making.