Hulu Makes First Acquisition; Chinese Video Startup To Form Backbone Of New Service
We haven't heard much about Bejing-based startup Mojiti before this week. They popped up in the TechCrunch Forums in January and are notable because the founder, Eric Feng, was previously at Microsoft Research Asia. Nothing other than that, and they do not appear to have many users. But they sure are in the spotlight now: a source with knowledge of the deal indicates that the $1 billion News Corp./NBC online video joint venture Hulu has acquired the company and is using its platform for the basis of the upcoming Hulu service.