Blockbuster Turns Down Offer To Buy Netflix For $50 Million!

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In 2000, when Netflix was just 3 years old, the company offered to sell itself to Blockbuster for $50 Million. Blockbuster saw the deal as too risky, which is ironic because Netflix, in large part, ultimately led to the demise of the video store model pioneered by Blockbuster and eventually put the company into bankruptcy. Sometimes “playing it safe” in business is more risky than stepping out on the limb and trying something new. Netflix produced almost $16 Billion in revenue in 2018, and as it turns out, would have been a pretty good bet for Blockbuster!

Would Netflix be the service it is today if Blockbuster had bought it? Most likely not. In fact, it is probable Blockbuster would have crushed the creativity of Netflix, and we would never have ended up with an unlimited streaming service like Netflix with so much content at our fingertips. It’s probably a good thing for all of us that Blockbuster turned Netflix down!

Checkout the other 6 biggest business blunders of all time for some more epic business fails.

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