Reed Hastings founded Netflix in 1997 with one goal in mindto put the joy back in movie-watching. Recognizing that due dates and late fees had tarnished the movie rental experience, Reed set out to turn the existing rental model upside down. He built what is now the worlds largest online DVD rental service and one of the most successful and influential Internet companies in the entertainment industry.
Under Reeds leadership, Netflix grew to one million subscribers in less than four years, more than 4.0 million by the end of 2005, and has its sights on 20 million subscribers by 2010. Drawing on his experiences in the software industry, Reed spearheaded the development of the companys technology infrastructure and led its efforts to create a patented business model that is forcing traditional retailers to change the way they do business. As one who enjoys a wide variety of movies, Reed ensures that all of the companys efforts are focused on delivering an exceptional customer experienceone that puts the joy back in movie-watching and creates customers for life.
The results speak for themselves: in 2005 and again in 2006 Netflix was named the worlds number one Internet site for customer satisfaction by ForeSee Results and FGI Research. In the fall of 2005 Netflix was the winner of Fast Company magazines national Customers First Award, with Reed on the cover of the October issue.
Reed is a frequent guest on CNBC, Bloomberg Business Television and has been the subject of major feature stories in The Economist, Fortune Magazine and the Financial Times.
Earlier in his career, Reed founded Pure Software, which he built it into one of the worlds 50 largest public software companies. After a successful public offering and a number of acquisitions, Pure was acquired by Rational Software in 1997.
Reed is a vocal and influential education advocate, championing charter public schools and passage of local school bonds. He has served as President of the California State Board of Education and was previously the CEO of TechNet, the high-tech industry's foremost political advocacy group. Reed was also a co-founder of Aspire Public Schools, NewSchools, and EdVoice.
Reed earned a masters degree in computer science from Stanford University and a bachelors degree from Bowdoin College. Before embarking on his business career, Reed served in the Peace Corps at a rural high school in Swaziland.