Pulling back the curtain at Netflix, the world’s largest streaming platform and one of the most coveted internet companies to work for in the world.
Netflix has cemented its place as a household name through its overnight success from a DVD mail-order company to streaming service extraordinaire. Twenty-five years ago, two-time founder Reed Hastings and his partner Marc Randolph launched the service in Scotts Valley, California, with personalized recommendations and curated lists at the forefront of their mail-order subscription service.
It’s headquartered in sunny Los Gatos, California, where the content studio is based, but has 23 office locations across 23 countries globally.
- 222 million222 million subscribers worldwide as of Q1 2022
- $26.7 billion$26.7 billion in revenue in 2021
- 11,30011,300 full-time employees work for Netflix as of 2021
- $30 millionThat's how much money Netflix spent per episode for the fourth season of its orginal series, Stranger Things, adding up to $270 million for the season. That's double what HBO spent per episode for the final season of Game of Thrones.
But the reason we are putting a looking glass up to Netflix isn’t because of their top-secret streaming algorithm or bingeable reality TV shows (we are looking at you, Love is Blind).
Rather, we are holding Netflix up to the light for its unique company culture and dual-CEO org design. Only 0.55% of companies on The Org have more than one CEO, making it stand out among the rest of its Big Tech peers and tech startups in general.
In 2009, the company released its 129-slide culture deck, titled Freedom & Responsibility, outlining the behaviors, values and skills the company is fundamentally looking for in employees and is motivated by when it comes to work.
While the company has moved away from the original slide deck Hastings put together, it still is notorious for cultivating an ever-present work culture for its employees that is a main point to nail for prospective candidate interviews.
Reed Hastings and Marc Randolph team up to start a DVD rental business….by mail. They test their idea by mailing themselves a DVD and when it arrives intact, Netflix is born. Netflix.com launches a year later.
The Netflix subscription model debuts. It offers members unlimited DVD rentals without due dates, late fees or monthly limits.
Netflix releases its first personalized movie recommendation system on its website, foreshadowing its renowned streaming algorithm to come. It uses member ratings’ on past titles to predict movies they’d like to watch in the future.
Netflix IPOs on the NASDAQ with a selling price of $1 a share. It’s ticker name is NFLX
Membership surpasses 1 million. The U.S Patent and Trademark Office issues the company a patent to cover its rental subscription services.
Streaming is introduced. Members can watch an unlimited number of series and films instantly.
The infamous Netflix Culture Deck is published. Streaming partnerships expand to internet connected TVs as membership surpasses 10 million.
Netflix goes worldwide. It expanded to Latin America and the Caribbean after launching in Canada the year prior. The first Netflix button appears on TV remotes.
Ted Sarandos spearheads initiative into original content. “House of Cards” “Orange is the New Black and “Arrested Development” were all released that year. Profiles and My List debuts on streaming
Netflix expands to 130 new countries, bringing the service to members in more than 190 countries and 21 languages around the world. The Download feature is added for offline and on-the-go viewing.
Sarandos' studio becomes the most nominated studio at the Emmys and wins 23. PIN protection is rolled out as a parental control feature.
Membership surpasses 200 million subscribers. Netflix launches mobile games.
Netflix is hit by an economic downturn in the stock market and plunging subscriber numbers. It lays off nearly 2% of its 11,000-person workforce. It also expands further into its stand-up comedy bet by launching Netflix as a Joke: The Festival in LA, the biggest live, in-person event in the company’s history.