On This Day - What happened 29 August 1997 AD

Marc Randolph and Reed Hastings founded Netflix on August 29, 1997 in Scotts Valley, California.

Netflix launched as the world's first online DVD-rental store, with only 30 employees and 925 titles available - almost the entire catalogue of DVDs at the time, using the pay-per-rent model, with rates and due dates similar to those of its brick-and-mortar competitor, Blockbuster.