Thats right. Although you might think of Netflix as a fairly new company, it was actually founded way back in 1997 by entrepreneurs Marc Randolph and Reed Hastings. Back in the days when downloading a photograph of The Spice Girls took longer than it takes to watch half a season of Dexter, Netflix was just an online pay-per-rental DVD-by-mail service. The idea for Netflixs current business model came to Hastings when he was 6 weeks late returning a copy of Apollo 13 and received a late fee of $40. Later, he went to the gym and realised that their model was better. You pay a flat fee and youre free to work out as much or as little as you want. It became a subscription based service in 1999 and started streaming movies online in 2007, the same year it delivered its billionth DVD.