Netflix co-founder opens up about their journey, says ‘Refused Amazon’s offer to Buy Netflix 25 years ago’

New Delhi (13/04/2023): Marc Randolph co-founder Netflix took to Twitter and discussed his justifications for rejecting Amazon’s offer 25 years ago. Amazon was interested in purchasing Netflix when it was still a DVD rental service rather than the streaming behemoth it is today. In fact, Jeff Bezos, the CEO of Amazon, made a $15 million offer for Netflix in 1998 when the firm had just turned one.

Although the discussions with Amazon went well, he claimed that the encounter had made him and his business partner Reed Hastings recognise that they were not yet prepared to hand over control of their startup to someone else.

Netflix CEO tweeted on the anniversary of the offer, he wrote, “25 years ago, in 1998, Reed and I flew to Seattle to talk about selling Netflix to Amazon. The meeting went well, and Jeff Bezos floated a price of $15 million.”

Although the discussions with Amazon went well, he claimed that the encounter had made him and his business partner Reed Hastings recognise that they were not yet prepared to hand over control of their startup to someone else.

He reminisced and wrote, “For Reed and I, this wasn’t a sales trip. This was a commitment ceremony.” They were right about their hunch, as Netflix is now a production and streaming business with a market worth of over $150 billion.