Netflix Inc NFLX introduced its streaming service to deliver content directly to personal computers on Jan.16, 2007. This was 16 years ago — a moment that could be construed as a tectonic shift in the company’s fortunes.
Before Netflix emerged as a streaming goliath, it faced impending death, according to a New York Times report dating back to mid-January 2007.
It was in times like this that Netflix CEO Reed Hastings introduced a service to bring television and film content directly to PCs, which was at the time free for subscribers to Netflix’s DVD rental service, according to the report.
Hastings showcased the new service on a laptop a week before it was introduced by playing the opening credits to “The World’s Fastest Indian,” reported the Times.
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The Investment: If an investor were lured by the demo and decided to put $100 in Netflix’s stock on the day Hastings introduced the streaming service, here’s how much they’d have today when Netflix shares closed at $332.82 on Friday, according to Benzinga Pro data.
| Investment | Date Of Purchase/Listing | Purchase Amount | Purchase Price | Units/Shares Obtained | Worth Now | Percentage Change |
|---|---|---|---|---|---|---|
| Netflix (NFLX) | Jan. 16, 2007 | $100 | $3.26 | 30.67 | $10,209.20 | 10,109.20% |
The $100 investment in Netflix would have transformed into $10,109.29 in the 16-year period and the investor would have reaped a whopping 10,109.2% returns.
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Image and article originally from www.benzinga.com. Read the original article here.