Red Envelope Madness!

Friday, December 30, 2005

Netflix Wins First Round

Hacking NetFlix found this Reuters story about Netflix and Blockbuster trading places:
"Netflix -- which has no debt -- now worth $1.5 billion, compared with Blockbuster at $684 million and more than $1 billion in debt."

Also:

Netflix CEO Reed Hastings says Amazon is out of the fight for online DVD rental space in the U.S.

He also says Netflix's growth will cause more video stores to close, even those belonging to Blockbuster and Movie Gallery, and

that Netflix has no plans to buy any other companies.

Hastings says Netflix will have 4.1 million subscribers by year-end.

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