Marc Randolph

Quick Facts

Full Name	Marc Randolph
Occupation	Business Executive
Date Of Birth	Apr 29, 1958(1958-04-29)
Age	66
Birthplace	Chappaqua
Country	United States
Horoscope	Aries

Marc Randolph Biography

Marc Randolph is one of the most popular and richest Business Executive who was born on April 29, 1958 in Chappaqua, United States. Marc Bernays Randolph, born April 29, 1958, is an American tech entrepreneur and advisor. He also speaks regularly. He was the first CEO and co-founder of Netflix.

In 1999, Randolph gave up his CEO position to Hastings and turned to product design. Mitch Lowe, his founding teammate, and Randolph tested a concept for a movie rental kiosk. This was called Netflix Express. Hastings later rejected the idea as a business line. Redbox is a giant movie kiosk company that Lowe created. After helping to guide Netflix through its initial public offering in 2002, Randolph quit Netflix. He gave credit to Hastings for scaling the company up to 93,000,000 subscribers around the world, but he said that he prefer the start-up stage. It’s a lot of triage at the beginning. I can pick out the three that you have to fix if there are 100 things wrong. Randolph stated that he is not skilled in the remaining 97.

The subscriber data collected by the user interface fed a recommendation engine known as Cinematch, that helped manage the company’s limited DVD inventory by guiding subscribers to movies and TV shows that were in stock and generally away from new releases.

Randolph’s first job out of college in 1981 was at Cherry Lane Music Company in New York. Put in charge of the company’s small mail-order operation, Randolph taught himself direct mail and marketing techniques while tinkering with different ways to sell Cherry Lane’s catalog of sheet music directly to consumers. Randolph’s fascination with using computer software to track customers’ buying behavior would ultimately inform his decision to create a user interface at Netflix that doubled as a market research platform. He further developed his theories about using direct mail to influence and retain customers doing circulation work while helping found the U.S. version of MacUser magazine in 1984. While co-founding computer mail-order firms MacWarehouse and MicroWarehouse with Peter Godfrey and his partners about a year later, Randolph made the connection between overnight delivery and improved customer retention. The discovery later proved crucial to Netflix’s growth and survival: the company’s subscriber base first blossomed and cut into Blockbuster Inc revenues in cities where Netflix offered overnight DVD delivery.

Randolph wanted to duplicate the e-commerce model that Amazon.com pioneered. He had heard that digital-versatile-discs (DVD) were being tested in several U.S. markets, and he wanted to explore the concept of selling the compact new digital format online. Hastings and he couldn’t find a DVD so they tried the idea on a compact disc. Randolph stated, “Reed and me were in Santa Cruz, and we were saying to each other, ‘I wonder how we can mail those things’.” We went in, bought a music CD, and then went to a stationery store… where we bought a greeting card. The CD was placed in an envelope and sent it to Reed. He said that it had arrived the next day. It’s fine. If there was an aha moment that led to it, that was it. Randolph’s mother, Hastings, and Integrity QA founder Steve Kahn, were the initial investors in Netflix. Randolph created the initial branding and user interface for the company and was the chief executive during Hastings’s Stanford University graduate program. Netflix was launched in California’s Scotts Valley office park on April 14, 1998. Randolph created the user interface as an online movie catalog and market research platform. He could test new versions of the interface constantly to improve the user experience. These market tests gave rise to three concepts, which were then combined to create Netflix’s success business model in 1999. A subscription-based service that offers unlimited content and no late fees, a Queue that allows subscribers to choose the order in the DVDs should be shipped to them and a serialized delivery system, which automatically sends out a DVD when the rental is returned.

Marc Randolph Net Worth

Marc Randolph is one of the richest Business Executive from United States. According to our analysis, Wikipedia, Forbes & Business Insider, Marc Randolph 's net worth $5 Million. (Last Update: December 11, 2023)

Since 1987, Randolph has been married Lorraine Kiernan Randolph. They have three children.

Randolph was a pioneer in the internet age, building direct-to consumer marketing operations at Borland International. He started his career there in 1988. In 1995, Randolph left Borland to work briefly at Silicon Valley start ups. He was the marketing manager at Visioneer desktop scanner manufacturer, then he was part of the founding team at Integrity QA, a developer and distributor of automated software testing products. Pure Atria, a software debugging company, purchased the nine-person software startup in late 1996. Pure Atria founder and CEO Reed Hastings retained Randolph to serve as vice president of corporate Marketing for the rapidly growing Pure Atria. Pure Atria, then in its late twenties, announced that Rational Software would purchase it in an $850m stock swap. This was the largest merger in Silicon Valley history. While the Rational merger was being completed, Hastings and Randolph commuted together from Santa Cruz, California to Silicon Valley for approximately four months. It was during these drives that the idea for Netflix was born.

In September 2019, his book, That Will Never Work: The Birth of Netflix and the Amazing Life of an Idea was published by Little, Brown and Company.

Height, Weight & Body Measurements

Marc Randolph height Not available right now. Marc weight Not Known & body measurements will update soon.

Who is Marc Randolph Dating?

According to our records, Marc Randolph married to Lorraine Kiernan Randolph. As of December 1, 2023, Marc Randolph’s is not dating anyone.

Relationships Record : We have no records of past relationships for Marc Randolph. You may help us to build the dating records for Marc Randolph!

Facts & Trivia

Marc Ranked on the list of most popular Business Executive. Also ranked in the elit list of famous people born in United States. Marc Randolph celebrates birthday on April 29 of every year.

Does Marc Randolph still own Netflix?

Net Worth:$100 Million
Place of Birth:| Chappaqua, New York, U.S.
Profession:| Co-founder and former CEO of Netflix

What is Marc Randolph doing now?

He is the co-founder and first CEO of Netflix. Chappaqua, New York, U.S. A serial entrepreneur who helped found the U.S. edition of Macworld magazine and the computer mail-order businesses MacWarehouse and MicroWarehouse, Randolph now serves on the boards of Looker Data Sciences and Chubbies Shorts.

What is Marc Randolph known for?

Marc Randolph is a veteran Silicon Valley entrepreneur, advisor and investor. He was co-founder of the on-line movie and television streaming service Netflix, serving as their founding CEO. Although best known for starting Netflix, Randolph’s career as an entrepreneur spans more than four decades.

Who are the owners of Netflix?

Netflix, in full Netflix, Inc., media-streaming and video-rental company founded in 1997 by American entrepreneurs Reed Hastings and Marc Randolph. It is also involved in the creation of original programming. Corporate headquarters are in Los Gatos, California. Netflix, Inc.

Is Netflix earning a profit?

In the first quarter of 2022, the streaming company Netflix based in Los Gatos, California, reported net earnings of around 1.6 billion U.S. dollars , whilst this amount was of roughly 1.7 billion in the corresponding quarter of 2021.