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Netflix was founded in 1997 by Reed Hastings and Marc Randolph to combat late fees for video rentals. Before Jobs returned to the business in 1997, its sales, and popularity all steadily declined for 12 years, nearly driving it into bankruptcy. Thanks to Will Yang, Instrumentl ! #4- 4- Netflix. Photo Credit: Jen Wan.
Warren Buffet, 1997. Paypal famously offered customers $5 to invite a friend, who would then also get $5 as part of a highly successful viral marketing campaign (they actually started at $20, and then reduced it to $10 and then ended at $5). Marketing 101: Customers love free stuff. You guessed it — straight up free money.
In 1997 the Nielsen Norman Group revealed that 79% of users they tested scanned web pages rather than reading them. Since then, our online lives have only gotten busier as we’re bombarded daily with personal messages, cat gifs, marketing messages, viral videos, political messages… You get the idea.
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