- Dec 31, 1969
Netflix has raised $400 million by issuing more stock. The move is sure to piss off investors that are still chaffed over the massive beating the company stock has taken in the last 90 days.
Netflix raised $400 million Monday as the video subscription service tries to recover from a customer backlash that has battered its stock and tarnished its brand. The decision to issue more debt and stock may rattle some investors still worried about Netflix's ability to recover from a crisis triggered by management's July announcement that it was raising U.S. prices by as much as 60 percent.