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Netflix Announces Initial Public Offering

May 22, 2002
Netflix Announces Initial Public Offering LOS GATOS, Calif., May 22 /PRNewswire-FirstCall/ -- Netflix, Inc. (Nasdaq: NFLX - News), announced today the initial public offering of 5,500,000 shares of its common stock at a price of $15.00 per share. The shares will be quoted on the Nasdaq National Market under the symbol "NFLX" beginning on May 23, 2002.

The offering was led by Merrill Lynch & Co., with Thomas Weisel Partners LLC and U.S. Bancorp Piper Jaffray acting as co-managers. Netflix has granted the underwriters the option to purchase up to 825,000 additional shares to cover over-allotments, if any.

The offering of these securities is made only by means of a written prospectus, copies of which may be obtained from Merrill Lynch & Co., Four World Financial Center, 250 Vesey Street, New York, NY 10080.

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 or jurisdiction.

About Netflix

Launched in 1998, Netflix is the world's largest online DVD rental service, with more than 600,000 subscribers and a comprehensive library of over 11,500 titles. For $19.95 a month, Netflix subscribers can view as many DVDs as they want and keep the movies for as long as they like. There are no due dates and no late fees. DVDs are delivered directly to the subscriber's address by first-class mail. Based in Los Gatos, California, the company also provides background information on DVD releases, including reviews, member reviews and ratings, and personalized movie recommendations. For more information on the company, visit

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