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Blockbuster Buy Netflix. Blockbuster went bankrupt in 2010 and netflix is now a $28 billion dollar company, about ten times what blockbuster was worth. Asked about the lack of diversity in silicon valley and.
6 Reasons Most Startups Fail Before They Even Get to Start from www.huffingtonpost.com
Back in 2000, reed hastings approached the former blockbuster ceo john antioco and asked for $50 million to take the company he founded, netflix. Unfortunately, blockbuster got the message a little too late, and the company must deeply regret not accepting netflix’s offer to buy the. Blockbuster’s downfall largely came about as a result of netflix, as well as redbox, which actually spawned from the brain trust behind netflix as well.
6 Reasons Most Startups Fail Before They Even Get to Start
In 2000, when netflix was a relatively new company they approached the giant of the industry, blockbuster, to purchase netflix for $50 million. Today the company is out of business and netflix is soaring. Netflix resisted pressure to sell to its online retail competitor amazon, and eventually defeated blockbuster. When netflix launched in 1997, blockbuster was the undisputed champion of the video rental industry.
