Hulu Acquires Mojiti

September 12th, 2007 at 12:00 am

It hasn’t been long since Hulu was in the spotlight for first coming up with a name, getting sued and being late. The $1Billion dollar joint venture video startup has been stirring up mixed emotions from the public and they seem to be reacting to their lack of delivery.

Mojiti is a video sharing platform based in Beijing founded by Eric Feng, a former Microsoft Research Asia employee. The startup has been reviewed here and has not made news ever since. Mojiti is video sharing and annototion site which allows users to comment on and in the video.

According to TechCrunch, they someone overheard a conversation in the airport from the founders of Mojiti about the acquisition. They say the price is at the $10Million range. This has not been confirmed by any of the companies involved yet.

All in all, I guess Hulu is speeding up things to make up for their tardiness hence acquiring Mojiti instead of making one themselves. It does make sense too, why make one when you can buy one? Besides, you can tweak it however you want afterwards.