Hulu acquires video startup

TechCrunch reports that Hulu, an online video site that is a joint venture between News Corp. and NBC, just acquired Mojiti, another video platform based in Beijing. Rumored price? $10 million.

From Mojito’s website: Mojiti allows you to tell the story your way with any online video. Whether or not you created the video, you can now do more than just watch- you can dive into the experience and tell everyone what you really think. Moment by moment, Mojiti makes it easy to annotate scenes, highlight objects or add shapes, Flash art, audio or video on the screen to share your unique take on the video with everyone.

Basically, the site allows you to overlay custom objects onto already existing videos and then share the new product, either via email or embedding onto your own site. Arrington points out that “the annotation feature is somewhat similar to another startup,, which is rumored to have been acquired by Cisco.” They have other competitors as well: Veotag, BubblyPLY, Rakugaki, and Viddler all have the video annotation function.

Previously we wrote about Hulu, which will stream many of NBC’s popular television shows, possibly playing into NBC’s decision to pull their shows from Apple’s iTunes store.


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