New HRTS Corporate Member: Netflix
With more than 15 million members, Netflix, Inc. (Nasdaq: NFLX) is the world's largest subscription service streaming movies and TV episodes over the Internet and sending DVDs by mail. For $8.99 a month, Netflix members in the United States can instantly watch unlimited TV episodes and movies streamed to their TVs and computers and can receive unlimited DVDs delivered quickly to their homes. Members in Canada can instantly watch unlimited movies and TV episodes streamed to their TVs and computers for $7.99 a month.
Netflix is consistently ranked as a top web site for consumers. In February 2010, the American Customer Satisfaction Index named Netflix the number one ecommerce company for customer satisfaction. Netflix has been named the number one retail Web site for customer satisfaction in 10 out of 11 surveys since 2005 by ForeSee Results. In the fall of 2005, Fast Company named Netflix the winner of its annual Customers First Award. In January 2007, Netflix was named the Retail Innovator of the Year by the National Retail Federation. In December 2007, Netflix was ranked the number one online retailer by Nielsen Online. In December 2008, TIME magazine named the Netflix Player by Roku one of the top 10 gadgets of the year.
Netflix has revolutionized the way people rent movies - by bringing the movies directly to them. With today's busy lifestyles, and consumers demanding more value and control, it's no wonder that Netflix has become the preferred online provider of the home entertainment experience.
Reed Hastings co-founded Netflix in 1997 and launched the subscription service in 1999. Netflix grew to one million subscribers in less than four years, and reached 12.3 million subscribers by the end of 2009.
In nine out of ten surveys since 2005 Netflix has been ranked number one in customer satisfaction across all of ecommerce by independent researcher ForeSee Results. In 2010, the American Customer Satisfaction Index (ASCI) ranked Netflix number one for customer satisfaction among all e-retail, e-brokerage and e-travel sites. In the fall of 2005, Netflix was the winner of Fast Company's national Customers First Award, with Reed appearing on the cover of the October issue.
Also in 2005, Time magazine added Reed to its "Time 100" list of the 100 most influential global citizens. Newsweek wrote that "Netflix revolutionized the way we watch movies." In March 2010, Barron’s included Reed among its 30 most respected CEOs of the year.
In March 2007 Reed was appointed to Microsoft Corp.’s board of directors and he was inducted into the Video Business Hall of Fame in December.
Earlier in his career, Reed founded Pure Software, which he built into one of the world’s 50 largest public software companies. After a successful public offering and a number of acquisitions, Pure was acquired by Rational Software in 1997.
Reed is an active educational philanthropist and board member of many non-profits. In addition, he was President of the California State Board of Education from 2000 to 2004. He has led successful statewide political campaigns for more charter public schools and easier passage of local school bonds.
Reed received a BA from Bowdoin College in 1983 and an MSCS degree from Stanford University in 1988. He holds several patents. Between Bowdoin and Stanford, Reed served in the U.S. Peace Corps as a high school math teacher in Swaziland.