Indiegogo Founder: 'If There's Any Company That's Been Competing, It's Been Netflix'

Netflix, Inc. NFLX shares slumped by almost 4 percent on Monday on back of the stock being downgraded by analysts at Evercore ISI to a sell. However, a lot of people don't agree with the downgrade. Among them is Slava Rubin, co-founder and CEO of Indiegogo. Rubin was on CNBC recently to make his bullish case for Netflix. Don't Bet Against Reed Hastings "If there's any company that's been competing, it's been Netflix, all the way back to Blockbuster and then competing against YouTube, now competing against Amazon and others," Rubin said. "I think the price is something that people [that are] here on the exchange will debate with multiples and such, but I think as a company they are really impressive." He continued, "People talk about the Internet of Things, I don't think any company has done a better job of getting their content on to every device than Netflix. I mean, they are already on PlayStation, they are already on the Xbox, they are already on iPhone, Android. People get excited about HBO cutting and getting on to Apple, I mean already you've Netflix on Apple TV. So, I mean, I think Netflix is pretty impressive. In the long run I don't bet against Reed Hastings." An Incredible Company Rubin was asked if Netflix will face increasing competition from other players, especially mobile messaging services as cited by the Evercore analysts. He replied, "I think there's no question that more people want to get more content out there and they are looking to become more mobile. I think Netflix overall is doing well, I think they have huge opportunities in to International. I think the price is something other people will debate, I can't say whether you should buy, hold or a sell, but I think in the long-run Netflix is an incredible company."