Facebook's move is a sign that it's serious about what could be a $100-billion initial public offering next year. Hastings guided the DVD rental service that he founded through an IPO in 2002.Signaling that it's seriously preparing for what some anticipate will be a $100-billion initial public offering next year, Facebook Inc.
Facebook announced Thursday that it has named Reed Hastings, chairman and chief executive of US video giant Netflix, to the social network's board of directors."Reed is an entrepreneur and technologist who has led Netflix to transform the way people watch movies and TV," Facebook co-founder and chief executive Mark Zuckerberg said in a statement. "He has built a culture of continuous rapid innovation, something we share and work hard to build every day."
By Robert Anders:Netflix, Inc. (NFLX) filed a Form 8-K with the SEC on Friday, Dec. 28, 2012, announcing salaries for its top executives. Included in the filing was the following compensation schedule.
Netflix cofounder and CEO Reed Hastings established his video-streaming company as a leader in corporate culture when his 2009 culture manifesto went viral in the business world. As Netflix became increasingly successful, Hastings grew into a confident and effective chief executive.
Netflix Chief Executive Reed Hastings made a strategically brilliant move for the business Friday when he announced plans to join Facebook's board of directors. Since it was founded in 1997, Netflix (NFLX) has risen from a start-up that took down Blockbuster with its red-enveloped videos by mail to the dominant movie streaming site on the web, disrupting the entire $85 billion home entertainment industry and prompting Fortune to name Hastings business person of the year for 2010. But competition is heating up for the future of your living room.
As Facebook insiders get ready to flood the market with their shares, Netflix (NFLX) CEO Hastings spent $1 million and bought 47,846 shares of Facebook at $21.03 a share. Those are the only Facebook stock he owns. Reed Hastings has served as a member of Facebook board of directors since [...]