Netflix, Inc. is an American media company founded on August 29, 1997, by Reed Hastings and Marc Randolph in Scotts Valley, California. The company began by selling and renting DVDs by mail, but pivoted to focus solely on rentals before introducing its groundbreaking streaming media service in 2007. It expanded internationally starting with Canada in 2010 and began producing original content in 2011 with the crime drama Lilyhammer. Today, Netflix is a global powerhouse, operating under co-CEOs Greg Peters and Ted Sarandos, and is the largest entertainment company by market capitalization, estimated at $450 billion. During the 2010s, it was the top-performing stock in the S&P 500, and it made history as the first streaming company to join the Motion Picture Association.