Netflix CEO Joins Facebook's Board of Directors

Paul Lilly

Facebook on Thursday announced that Reed Hastings, chairman and chief executive officer of Netflix, has joined the world's most popular networking site's board of directors. Like a full-on double complete rainbow, this move has people wondering what it could mean, minus the viral video and happy tears.

"Reed is an entrepreneur and technologist who has led Netflix to transform the way people watch movies and TV," said Mark Zuckerberg , founder and CEO of Facebook. "He has built a culture of continuous rapid innovation, something we share and work hard to build every day."

Hastings has been upfront about Netflix being primarily a subscription streaming service despite its roots as a DVD-by-mail business, while Facebook recently started dipping its toes in the streaming movie pool by partnering with Warner Brothers to offer rentals.

"Facebook is propelling a fundamental change in how people connect with each other and share all kinds of content," said Hastings. "I'm looking forward to working with Mark and the rest of the board to help Facebook take advantage of the opportunities ahead."

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