Netflix Rebrands and Renames Company
Over the past few months, Netflix has been an example of how not to run a company, and they know that. Co-founder and CEO Reed Hastings, wrote on the company blog, “I messed up. I owe everyone an explanation.”
Netflix, which has experienced a dramatic loss in customer and stock value due to price-structure changes, announced that the 12-year-old company is changing names and separating the two movie services — online streaming and DVD-by-mail.
The online streaming service will continue to be called Netflix, and the DVD-by-mail service will be rebranded as Qwikster. Customers will have to log into separate websites to access their accounts, if they subscribe to both services. However, this is yet another risky move for the already-troubled company.
Netflix does not have a large amount of streaming content, and are facing increased competition, from Hulu, Amazon, Redbox kiosks and other services.
The first step to rebuilding a brand is open, honest communication. Hasting’s blog post was a step in the right direction, but the sustainability of their new business model, and Qwikster, depend on their ability to regain customers trust, and most importantly, loyalty.
Google Wallet Likely to Launch Today
Speculation is rising that mobile-payment service Google Wallet will launch today. Google Wallet allows you to pay for things by tapping or swiping your phone at a store’s checkout terminal.
The Google Wallet website still says, “coming soon,” but there is reason to believe it will be very soon — as it today.
Multiple images have been posted on popular tech blogs TechCrunch and GigaOm showing documentation of the service and images of payment readers in businesses.
When launched, Google Wallet will only operate on the Android-based Nexus S smartphone. And, customers must have access to MasterCard’s PayPass system. However, Google Wallet will work with Citi MasterCard credit cards and the Google PrePaid Card.
According to the Google Wallet website, Subway, Jamba Juice, Radioshack, Foot Locker, Bloomingdale’s, Walgreens and more will offer the system to customers.
We will be sure to keep you updated on the launch of this revolutionary mobile-payment platform as we learn of new information.