Blockbuster could have purchased Netflix for 1/2600th of what today is value.
When offered the opportunity to buy it in 2000, execs reportedly “struggled not to laugh,” a new book has revealed.
In “That Will Never Work: The Birth of Netflix”, Marc Randolph recounted to the tale of how he and individual fellow benefactor Reed Hastings pitched their organization to Blockbuster CEO John Antioco for $50 million.
At the time, years before anybody had ever known about spilling, the then-three-year-old organization was all the while mailing DVDs, yet realized the web would in the end be the path forward; However, it was losing cash quick.
Blockbuster then had quite recently verified $450 million in real money through first sale of stock.