Wednesday, October 4

Tag: reed hastings

Netflix CFO David Wells Resigns After 14 Years of Service
News

Netflix CFO David Wells Resigns After 14 Years of Service

World's leading internet entertainment service Netflix has announced the resignation of its chief financial officer David Wells. The latter plans to exit "after helping the company choose his successor". David joined the company in 2004 and was appointed as the CFO in 2010. The company will be searching for the next CFO through both internal and external candidates as stated by the company. “It’s been 14 wonderful years at Netflix, and I’m very proud of everything we’ve accomplished,” Wells said. "After discussing my desire to make a change with Reed, we agreed that with Netflix’s strong financial position and exciting growth plans, this is the right time for us to help identify the next financial leader for the company. Personally, I intend my next chapter to focus more on philanthrop...
Tech Lords Lost A Fortune In Today’s Wipeout
BUSINESS

Tech Lords Lost A Fortune In Today’s Wipeout

[dropcap]T[/dropcap]he billionaire founders of the top tech giants- Facebook Inc, Amazon Inc, Netflix and Google's owner Alphabet Inc lost a fortune of $7.6 billion net on Wednesday as the Nasdaq 100 suffered the worst drop in the past three months. Among these the company that suffered the most was Facebook, whose founder Mark fell $2.6 billion alone as per the source Bloomberg. This drop also affected Amazon founder Jeff Bezos that caused him to slip below the $100 billion figure which he recently acquired, breaking Bill Gates record of 1999. The shares of Amazon.com Inc tumbled $2.5 billion off his net worth. The American entertainment company Netflix founder Reed Hastings fell $133 million while multinational conglomerate Alphabet Inc founder Larry Page and Sergey Brin around ...
People watched 12 billion hours of Netflix in the last 3 months of 2015
News

People watched 12 billion hours of Netflix in the last 3 months of 2015

Netflix users watched 12 billion hours of Netflix in Q4 last year, Netflix CEO Reed Hastings said onstage at the International Consumer Electronics Showcase Wednesday. That's up from 8.25 billion a year ago. In total last year, users watched 42.5 billion streaming hours of Netflix. Hastings attributes the rise in viewing to several factors. For one thing, he said, internet speeds are getting faster and faster, which makes it easier to stream video. And devices are getting smarter, cheaper, and more widely adopted. "Netflix was the first to put up all episodes of a show at once, to give consumers complete control, and to start the binge era," Hastings said. "Each day we're getting better and better at delighting our members." Fact source