Founded on August 29, 1997 in Scotts Valley, California, home entertainment company Netflix turns 20 today. Having started out as a DVD-by-mail company, Netflix started pivoting towards online streaming of video content in 2007 and has since become the world’s leading provider of subscription-based video-on-demand streaming.
By the end of June 2017, Netflix had 104 million streaming subscribers, of which 52 million were located outside the United States. The company had started its international expansion in 2010, when it had 19.5 million domestic customers. In the second quarter of 2017, international subscribers exceeded U.S. subscribers for the first time in Netflix’s history.
Having gone public in 2002, when it was just a DVD-by-mail service with 600,000 subscribers, Netflix’s stock price exploded after the company decided to focus on online streaming in 2011. Following a brief dip after announcing the decision to split its streaming service from the DVD-rental business, investors quickly realized the potential in Netflix’s new area of focus. The company is currently valued at $72.9 billion.