TV Streaming Website Hulu to Go Public

IPO could raise $2B for site: NY Times

View Comments (
)
|
Email
|
Print

    NEWSLETTERS

    Hulu, the website that streams hit TV shows like "Glee" and "Modern Family," is preparing to go public with a stock sale that could raise more than $2 billion.

    The company, one-third of which is owned by NBC, is in talks with investment banks to go public as soon as this fall, according to The New York Times.

    Hulu.com was launched in 2008 by NBC, Fox and ABC, the most popular U.S. website for viewing television shows.The company, which competes with YouTube, reported a revenue of about $100 million last year.

    Last month, Hulu introduced a new paid subscription service for watching TV shows and movies on mobile devices, game consoles, television sets and computers. Up until now, revenues come through commercials that air during the streaming content.

    Hulu also carries content from Bravo, USA Network, FX, E!, A&E and others. It cannot be viewed outside the U.S., although the partnership has said it plans an international launch in the future.

    Selected Reading: Reuters, The New York Times, Hulu.