SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. 1)*
Netflix, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
64110L106
--------------------------------------------------------------------------------
(CUSIP Number)
Theodore R. Meyer
70 Willow Road, Suite 200
Menlo Park, CA 94024
650/614-0500
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box. [ ]
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss.240.13d-7 for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
(Page 1 of 14 Pages)
CUSIP No. 64110L106 SCHEDULE 13D Page 2 of 14 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Foundation Capital II, L.P.
94-3294074
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, United States of America
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
932,392 shares
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 932,397 shares
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
932,397 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 64110L106 SCHEDULE 13D Page 3 of 14 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Foundation Capital II Entrepreneurs Fund, L.L.C.
94-3301748
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, United States of America
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
109,692 shares
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 109,692 shares
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
109,692 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 64110L106 SCHEDULE 13D Page 4 of 14 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Foundation Capital II Principals Fund, L.L.C.
94-3296579
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, United States of America
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
54,844 shares
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 54,844 shares
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
54,844 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 64110L106 SCHEDULE 13D Page 5 of 14 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Foundation Capital Management Co. II, L.L.C.
94-3294072
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, United States of America
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
1,096,933 shares
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 1,096,933 shares
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,096,933 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 64110L106 SCHEDULE 13D Page 6 of 14 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Foundation Capital Leadership Fund, L.P.
94-3370925
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, United States of America
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
1,694,821 shares
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 1,694,821 shares
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,694,821 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 64110L106 SCHEDULE 13D Page 7 of 14 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Foundation Capital Leadership Principals Fund, L.L.C.
94-3377483
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, United States of America
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
45,200 shares
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 45,200 shares
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
45,200 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 64110L106 SCHEDULE 13D Page 8 of 14 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
FC Leadership Management Co., L.L.C.
91-2076858
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, United States of America
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
1,740,021 shares
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 1,740,021 shares
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,740,021 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.3%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Item 1 Security and Issuer
(a) Name of the Issuer: Netflix, Inc. (the "Issuer")
(b) Title of Security: Common Stock, par value $0.001 per share (the "Common
Stock")
(c) The Issuer's principal executive office: 970 University Avenue
Los Gatos, CA 95032
Item 2 Identity and Background
(a) Name:
Foundation Capital II, L.P. ("FC2")
Foundation Capital II Entrepreneurs Fund, L.L.C. ("FC2E")
Foundation Capital II Principals Fund, L.L.C. ("FC2P")
Foundation Capital Management Co. II, L.L.C. ("FC2M")
Foundation Capital Leadership Fund, L.P. ("FCL")
Foundation Capital Leadership Principals Fund, L.L.C. ("FCLP")
FC Leadership Management Co., L.L.C. ("FCLM")
(b) Residence or business address:
c/o Foundation Capital
70 Willow Road, Suite 200
Menlo Park, CA 94025
(c) Principal Business/Principal Occupation:
The principal business of FC2, FC2E and FC2P is acting as venture capital
investment vehicles. FC2M serves as the sole general partner of FC2 and the
sole manager of FC2E and FC2P. The principal business of FCL and FCLP is
acting as venture capital investment vehicles. FCLM serves as the sole
general partner of FCL and the sole manager of FCLP.
(d) Convictions in criminal proceedings in the last 5 years:
None.
(e) Judgments for violations of Securities Laws in the last 5 years:
None.
(f) Citizenship:
Entities: FC2 - Delaware
FC2E - Delaware
FC2P - Delaware
FC2M - Delaware
FCL - Delaware
FCLP - Delaware
FCLM - Delaware
Item 3 Source and Amount of Funds or Other Consideration
Not applicable.
Item 4 Purpose of Transaction
FC2, FC2E, FC2P, FC2M, FCL, FCLP and FCLM acquired the Common Stock for
investment purposes.
Subject to applicable legal requirements, Reporting Persons may purchase
additional Common Stock from time to time in open market or in private
transactions, depending on their evaluation of Issuer's business, prospects and
financial condition, the market for the Common Stock, other developments
concerning Issuer, the reaction of Issuer to Reporting Person's ownership of
Common Stock, other opportunities available to Reporting Persons, and general
economic, money market and stock market conditions. In addition, depending upon
the factors referred to above, Reporting Persons may dispose of all or a portion
of their Common Stock at any time.
Other than as described in this Item 4, Reporting Persons do not have any plan
or proposal relating to, or that would result in, any event described in (a)-(j)
of this Item 4.
Item 5 Interest in Securities of the Issuer
The following information with respect to the ownership of the Common Stock of
the Issuer by the persons filing this Statement is provided as of December 31,
2002:
=====================================================================================================================
Ownership/Power FC2 FC2E FC2P FC2M FCL FCLP FCLM
---------------------------------------------------------------------------------------------------------------------
Beneficial Ownership 932,397 109,692 54,844 1,096,933 1,694,821 45,200 1,740,021
---------------------------------------------------------------------------------------------------------------------
Percentage of Class 3.4 0.4 0.2 4.0 6.1 0.2 6.3
---------------------------------------------------------------------------------------------------------------------
Sole Voting Power 932,397 109,692 54,844 1,096,933 1,694,821 45,200 1,740,021
---------------------------------------------------------------------------------------------------------------------
Shared Voting Power 0 0 0 0 0 0 0
---------------------------------------------------------------------------------------------------------------------
Sole Dispositive Power 932,397 109,692 54,844 1,096,933 1,694,821 45,200 1,740,021
---------------------------------------------------------------------------------------------------------------------
Shared Dispositive Power 0 0 0 0 0 0 0
=====================================================================================================================
Item 6 Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer
Not applicable.
Item 7 Material to be filed as Exhibits
Exhibit A: Joint Filing Statement
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Dated: February 13, 2003
FOUNDATION CAPITAL MANAGEMENT CO. II, L.L.C.
By: /s/ William B. Elmore
--------------------------------------------------
Member
FOUNDATION CAPITAL II, L.P.
By: Foundation Capital Management Co. II, L.L.C.
its General Partner
By: /s/ William B. Elmore
--------------------------------------------------
Member
FOUNDATION CAPITAL II ENTREPRENEURS FUND, L.L.C.
By: Foundation Capital Management Co. II, L.L.C.
its Manager
By: /s/ William B. Elmore
--------------------------------------------------
Member
FOUNDATION CAPITAL II PRINCIPALS, L.L.C.
By: Foundation Capital Management Co. II, L.L.C.
its Manager
By: /s/ William B. Elmore
--------------------------------------------------
Member
FC LEADERSHIP MANAGEMENT CO., L.L.C.
By: /s/ William B. Elmore
--------------------------------------------------
Member
FOUNDATION CAPITAL LEADERSHIP FUND, L.P.
By: FC Leadership Management Co., L.L.C.
its General Partner
By: /s/ William B. Elmore
--------------------------------------------------
Member
FOUNDATION CAPITAL LEADERSHIP PRINCIPALS FUND, L.L.C.
By: FC Leadership Management Co., L.L.C.
its Manager
By: /s/ William B. Elmore
--------------------------------------------------
Member
EXHIBIT A
We, the undersigned, hereby express our agreement that the attached Schedule 13D
(or any amendments thereto) relating to the Common Stock of Netflix, Inc. is
filed on behalf of each of us.
Dated: February 13, 2003
FOUNDATION CAPITAL MANAGEMENT CO. II, L.L.C.
By: /s/ William B. Elmore
--------------------------------------------------
Member
FOUNDATION CAPITAL II, L.P.
By: Foundation Capital Management Co. II, L.L.C.
its General Partner
By: /s/ William B. Elmore
--------------------------------------------------
Member
FOUNDATION CAPITAL II ENTREPRENEURS FUND, L.L.C.
By: Foundation Capital Management Co. II, L.L.C.
its Manager
By: /s/ William B. Elmore
--------------------------------------------------
Member
FOUNDATION CAPITAL II PRINCIPALS FUND, L.L.C.
By: Foundation Capital Management Co. II, L.L.C.
its Manager
By: /s/ William B. Elmore
--------------------------------------------------
Member
FC LEADERSHIP MANAGEMENT CO., L.L.C.
By: /s/ William B. Elmore
--------------------------------------------------
Member
FOUNDATION CAPITAL LEADERSHIP FUND, L.P.
By: FC Leadership Management Co., L.L.C.
its General Partner
By: /s/ William B. Elmore
--------------------------------------------------
Member
FOUNDATION CAPITAL LEADERSHIP PRINCIPALS FUND, L.L.C.
By: FC Leadership Management Co., L.L.C.
its Manager
By: /s/ William B. Elmore
--------------------------------------------------
Member