Pure Software was founded in October 1991 by Reed Hastings and Mark Box. The original product was a debugging tool for Unix/C engineers called Purify. After adding new products such as Quantify and PureLink, and doubling its revenue every year for four years, Pure Software went public with the help of Morgan Stanley in August 1995. In August 1996, Pure Software merged with Atria to form Pure Atria Corporation. Later in August 1997, Rational Software acquired Pure Atria, giving Hastings the capital to start Netflix.
When Pure Atria was acquired by Rational Software, it triggered a 42% drop in both companies' stocks after the deal was announced. Hastings was appointed Chief Technical Officer of the combined companies and left soon after the acquisition. "I had the great fortune of doing a mediocre job at my first company," says Hastings. "We got more bureaucratic as we grew." After Pure Software, Hastings spent two years thinking about how to avoid similar problems at his next startup, Netflix.
Famous quotes containing the word pure:
“Keep your hands clean and pure from the infamous vice of corruption, a vice so infamous that it degrades even the other vices that may accompany it. Accept no present whatever; let your character in that respect be transparent and without the least speck, for as avarice is the vilest and dirtiest vice in private, corruption is so in public life.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)