Posted by Market Wrap Daily | Posted in: Technology
Netflix (Nasdaq: NFLX) shares continue to slide
Netflix (Nasdaq: NFLX) shares were trading lower in early trading Tuesday after
announcing late Monday the pricing of concurrent common equity and convertible notes financings totaling $400 million. $200 million was raised through the registered sale of common stock to certain mutual funds and accounts managed by T. Rowe Price Associates, Inc., and $200 million was raised through the private placement of convertible notes to funds affiliated with Technology Crossover Ventures (TCV).
With more than 20 million streaming members in the United States, Canada and Latin America, Netflix, Inc. (Nasdaq: NFLX) is the world’s leading Internet subscription service for enjoying movies and TV shows. For about US$7.99 a month, Netflix members can instantly watch unlimited movies and TV episodes streamed over the Internet to PCs, Macs and TVs. Among the large and expanding base of devices streaming from Netflix are Microsoft’s Xbox 360, Nintendo’s Wii and Sony’s PS3 consoles; an array of Blu-ray disc players, Internet-connected TVs, home theater systems, digital video recorders and Internet video players; Apple’s iPhone, iPad and iPod touch, as well as Apple TV and Google TV. In all, more than 700 devices that stream from Netflix are available.
Tags: Internet, Netflix, streaming, TV shows