The Two Minute Bio: Reed Hastings

Reed Hastings is an American entrepreneur who co-founded Netflix, a media rental service, which provides on-demand internet streaming media available to viewers in several countries all over the world. Established in 1997 as a single rental service, the web-based mail-order service is today available in nations across the globe, and a huge share of the credit for its success goes to its highly innovative co-founder Hastings who believes that taking calculated risks is the key to entrepreneurial success.

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He employed aggressive expansion strategies and expanded Netflix through movie studio partnerships and marketing campaigns that emphasized the company’s catalog of indie films, documentaries, and other movies not easily available through other services. Netflix shipped its billionth DVD in 2007 and today it has more than 65 million subscribers.

He joined the board of Microsoft in 2007 and served there until 2012. He is also a director of the board of Facebook since June 2011.

Net worth: $  3.3b US

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