Netflix Files Registration Statement for Initial Public Offering
LOS GATOS, Calif. (March 6, 2002) -- Netflix, Inc. announced today the filing of a registration statement for an initial public offering of its common stock. All of the securities in the proposed IPO are being offered by Netflix.
Merrill Lynch & Co., Thomas Weisel Partners LLC and U.S. Bancorp Piper Jaffray are acting as managers of the proposed offering.
The public offering will be made only by means of a prospectus, which when available, may be obtained from Merrill Lynch & Co., Four World Financial Center, 250 Vesey Street, New York, NY 10080.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
Netflix is the world's largest online entertainment subscription service providing more than 500,000 subscribers access to a comprehensive library of more than 11,500 movie, television and other filmed entertainment titles. Our standard subscription plan allows subscribers to have three titles out at the same time with no due dates, late fees or shipping charges for $19.95 per month. Subscribers can view as many titles as they want in a month. Subscribers select titles at our Web site (www.netflix.com) aided by our proprietary CineMatch technology, receive them on DVD by standard first-class mail and return them to us at their convenience using our prepaid mailers. Once a title has been returned, we mail the next available title in a subscriber's queue.