Netflix founder Reed Hastings to leave board in June to focus on philanthropy
Los Gatos: Reed Hastings, who helped start Netflix, will stop being on the company’s board in June. He wants to work on helping others and other interests instead.
Hastings and another man named Marc Randolph began Netflix in 1999. Back then, people rented movies from stores. Netflix let people get DVDs by mail. Later, it changed to let people watch shows on computers and phones.
Netflix grew big under Hastings. It made many video stores close down. The company also pushed other big companies like Disney and Amazon to start their own ways for people to watch shows online.
Netflix made $12.25 billion dollars in the first three months of this year. That’s much more money than last year. The company wants to use new computer tools like artificial intelligence to make even better shows.
Hastings said his best memory was when Netflix could be used all around the world in 2016. He thanks the people who run Netflix now and says the company will do well for many more years.