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Hulu backs off IPO

December 21, 2010

Hulu, which has been tipped for a New Year IPO, is now said to be exploring alternative means of raising capital, including getting existing investors to inject more capital, says the WSJ.

Many US reports have previously predicted the online video site was angling for an IPO to raise $200 million to $300 million – valuing the company at about $2 billion – for acquisition of content.

The Hulu Plus subscription service launched in November but the company was forced to cut its price to $7.99 per month from a preview price of $9.99, underscoring the intense competition in digital media among the likes of Netflix, Google, Apple and Amazon.

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