Home Gear Netflix’s Co-Founder Purchases Stake In Powder Mountain

Netflix’s Co-Founder Purchases Stake In Powder Mountain


Image Credit: Powder Mountain – Ian Matteson

“At some point, it was save-the-world stuff, and I think now it’s: Have an incredible ski mountain that’s uncrowded where you can get multi-day powder.”– Reed Hastings, Co-Founder of Netflix. 

Powder Mountain just concluded a historic season, receiving 565 inches of snow, and had its deepest snowpack ever at 165″. They’ve made national news for a different story though: the detailed article by Fortune as to how the Summit Mountain Holding Company’s goal to create a utopia on the top of Powder Mountain didn’t come to fruition.

After this article, the Summit Mountain Holding Company offered Reed Hastings, who is the Co-Founder of Netflix, a majority of their shares in Powder Mountain, which would give him a seat on the five-person board, and oversee management and operations. Hastings, who completed a home on Powder Mountain in 2021, didn’t even hesitate to accept.

The Salt Lake Tribune reports that the deal was finalized on Monday, giving Powder Mountain one of the brightest minds from the tech industry. Reed stepped down as Co-CEO at Netflix in January, so he has more free time. He remains the Chairman for them.

With the deal just being finalized, they haven’t fully sketched out a full master plan. Reed revealed some of their plans in a statement to the Hollywood Reporter:

“Patty and I love this mountain community and want to see it flourish. We’re looking forward to being a part of Powder Mountain’s future and to help safeguard what makes this place special. Also, we look forward to funding some lift upgrades, restaurants, and enhanced parking!”

General Manager Kevin Mitchell went into further detail in an interview with the Salt Lake Tribune. He said that they plan on adding a surface lift this offseason in the Timberline area, and will continue to expand their mountain biking trail network this summer. A Timberline lift replacement, more dining options, and parking improvements (which possibly include reservations) are also being planned.

Kevin Mitchell, GM of Powder Mountain. Image Credit: Powder Mountain – Ian Matteson

I’m a big fan of the move. I’d say Reed Hastings’s endeavor over at Netflix has been fairly successful, so he brings leadership to a community with strong roots. He gets what makes Powder Mountain special, which is the uncrowded powder skiing.

Image Credits: Powder Mountain/Ian Matteson

This article was originally published by Unofficialnetworks.com. Read the original article here.


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