Hulu The $1Billion Dollar Idea of NewsCo and NBC Universal

August 30th, 2007 at 12:00 am

For 5 months, the blogosphere has been talking about the YouTube killer or ClownCo that got a $1-billion dollar valuation.  Today, that idea gets its name, Hulu .

Currently in private beta, this is the first glimpse of the public on what the service will be.  It’s been previouly speculated that it’s going to be a video site and now with the homepage, we get an idea that they’ll be a video on demand kind of site airing copyrighted material.  Since of course they are NBC, and they own the rights, they can do it.  Whether it’s going to be completely free or not is still unknown.

Now how will YouTube compete? So far nobody’s really saying anything but with their new ads schemes I guess they’re going down a different path.

Like I said, they are still in private beta but that should be over by October, according to them,

"In the interest of delivering a great customer experience and making sure that we can address any feedback that comes along the way, we’re going to start small and grow iteratively in terms of the volumes of people that we invite to participate in the beta."

Finally, why the name?  Hulu CEO has an answer for that too:

"Why Hulu? Objectively, Hulu is short, easy to spell, easy to pronounce, and rhymes with itself. Subjectively, Hulu strikes us as an inherently fun name, one that captures the spirit of the service we’re building. Our hope is that Hulu will embody our (admittedly ambitious) never-ending mission, which is to help you find and enjoy the world’s premier content when, where and how you want it."

Now, if they could only overshadow the meaning of "Hulu" in other languages they’re all set.