Sorry!! The article you are trying to read is not available now.

Netflix-Offshoot Qwikster Already Has a Problem

Print comment Post Comments
Once CEO Reed Hastings announced Netflix's plans to spin off DVD rentals to a separate company and website, customers began mentally preparing for their movie viewing options. "Stick with streaming? Add a second service? Ditch everything altogether and become familiar with BitTorrent?"

But as its customers were thinking ahead, it appears that Netflix wasn't doing so at all.

Online companies must depend on social media for announcements, deals, and customer service -- arguably more so than brick-and-mortar retailers. Twitter is logically the first choice for companies to connect with customers. Unfortunately for Qwikster, somebody by that name already holds that distinction.

And his posts are, let's just say, "less than optimal."

Jason Costillo nabbed the @Qwikster username roughly five months before Netflix announced the company name. Not only did the chap win the account-squatting championship, judging from his tweets, he'll likely hold out for a sizable chunk of Qwikster's seed money.

And if his avatar is any indication, there's little question on what he'll spend his money.

Here are some choice entries in Costillo's account, ranked from "Oh, that's not good for Netflix" to "Is it too late to change the name?"
5. "english about boring as shyt tryin to go to soccer already"

4. "I'm about hungry as shyt but my dad doesn't want to buy me food lik wtf"

3. Bored as shyt wanna blaze but at the same time I don't ugh [f***] it where's the bowl at spark me up lls

2. "I hate when [b****] [f***en] rap but they don't got the balls to swing first just waiting till he do something but he don't want it"

1. "Don't bother telling me who my ex is now dating ! Cuzz now I feel bad for the [b****] that has my sloppy seconds :)"
(See also: Netflix Apologizes, Sends DVDs Off to Die and RIM Co-CEOs Displace Blame as Company Burns)

For an investment angle on these and many more tech stocks, take a FREE trial to the TechStrat Report by Sean Udall.
POSITION:  No positions in stocks mentioned.