The last number of years have seen an amazing amount of growth for Netflix. From starting out as a strictly DVD by mail service and being the first to really capitalize on the popularity of streaming entertainment they have always stayed ahead of the curve. Recent reports from Gianfrancesco Genoso’s Linkedin have valued the company at more than $32.9 billion. This valuation reflects a very strong first quarter in 2015 as well as a surging stock price.
By comparison, the media giant CBS Corporation has a value of $30.6 billion. Netflix, who started out by only offering content produced and aired by other entities such as CBS, is now producing multiple critically acclaimed series, even winning Golden Globes.
At one point in time the Netflix founders had approached Blockbuster looking to sell the DVD by mail service to the video store rental company at a bargain basement price of $50 million. Blockbuster turned them down, thinking they could build their own mail service. This proved to be a fatal mistake, as they also faced competition from Redbox. Once Netflix began streaming, Blockbuster could no longer compete and it let to their demise. Blockbuster filed for bankruptcy in 2010 and closed most of their locations in 2011 and 2013. In January of 2014 they closed the last of their corporate owned stores.
Meanwhile this week Netflix stock has been trading at it’s all time high at $567.