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    • Blockbuster declined to purchase Netflix

      • A member of the Netflix communications team told Newsweek that Blockbuster declined to purchase Netflix for $50 million in 2000.
      www.newsweek.com › fact-check-did-blockbuster-turn-down-chance-buy-netflix-50-million-1575557

      Fact Check: Did Blockbuster Turn Down Chance to Buy Netflix ...

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  3. fortune.com › 2023/04/14 › netflix-cofounder-marcNetflix cofounder recalls Blockbuster rejecting chance to pay ...

    Apr 14, 2023 · One of them: In 2000, the two tried to sell their startup to Blockbuster for $50 million. They were flat-out rejected. John Antioco, CEO of Blockbuster, deemed Netflix a niche business and said...

    • Steve Mollman
    • steve.mollman@fortune.com

  4. www.newsweek.com › fact-check-did-blockbuster-turnFact Check: Did Blockbuster Turn Down Chance to Buy Netflix ...

    • The Claim
    • The Facts
    • The Ruling

    Netflix's preview of "The Last Blockbuster," poised for a March 15 release, drew excitement online as users noted the irony of Blockbuster's former nemesis dropping a documentary about the company. Some users offered an alleged piece of corporate history, saying that Blockbuster turned down an opportunity to purchase Netflix for $50 million.

    See full list on newsweek.com

    When Netflix launched in 1998, Blockbuster already had a 13-year grip on the video rental industry, which Netflix hoped to improve with a rent-by-mail service, according to a 2019 profile published by The Guardian. Netflix struggled in its early years but soon began growing its subscriber base through free trials and deals that skyrocketed its popu...

    See full list on newsweek.com

    True. Both Netflix co-founders document that they offered the company to Blockbuster for $50 million in 2000. Blockbuster declined, though its CEO denies that any serious discussions took place. Netflix is now worth about $231 billion. Update 02/02/22, 12 p.m. ET: The article has been updated with comments from the former Blockbuster CEO John Antio...

    See full list on newsweek.com

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  6. www.screengeek.net › 2024/05/04 › blockbuster-turnedBlockbuster Turned Down Chance To Buy Netflix In 2000

    May 4, 2024 · In 2000, Netflix co-founders Reed Hastings and Marc Randolph approached Blockbuster with a proposal to sell their company for $50 million. This meeting included Blockbuster’s then-CEO John...

    • Frank Palmer

  7. finance.yahoo.com › news › blockbuster-laughed-usBlockbuster ‘laughed us out of the room,’ recalls Netflix ...

    Apr 16, 2023 · Blockbuster ‘laughed us out of the room,’ recalls Netflix cofounder on trying to sell company now worth over $150 billion for $50 million. Steve Mollman. Updated Sun, Apr 16, 2023, 12:51 PM 3...

    • 1 min
    • Steve Mollman

  8. www.inc.com › minda-zetlin › netflix-blockbusterBlockbuster Could Have Bought Netflix for $50 Million, but ...

    Sep 20, 2019 · The company could have bought Netflix that day for $50 million, but its CEO didn't even bother to consider the possibility. He seemed to see it as a great big joke. The evening before the meeting ...

  9. finance.yahoo.com › news › netflix-ceo-confessesNetflix CEO Confesses He Tried To Sell The Company To ...

    Jan 31, 2014 · Netflix CEO Reed Hastings flew out to Dallas that spring to meet with Blockbuster execs, who had 7,700 stores open at the time. Netflix was losing money, had only 300,000 subscribers and...

  10. www.marketplace.org › 2020/09/08 › ceo-reed-hastings-on-CEO Reed Hastings on how Netflix beat Blockbuster

    Sep 8, 2020 · In early 2000, Netflix founders Reed Hastings and Marc Randolph offered to sell the company to Blockbuster for $50 million. Blockbuster turned them down. Eventually, Netflix triumphed over...

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