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Hulu prepares IPO, Battles Netflix

Reuters, Sunday, October 10, 2010 10:42 PM

Popular U.S. Web video service Hulu is prepared to raise as much as $300 million in an IPO likely to be led by Morgan Stanley. Hulu is ready to raise $200 million to $300 million in a deal valuing the company at about $2 billion, and could file a prospectus with the U.S. Securities and Exchange Commission before the end of the year, one source said.

Tapping public markets is one of several options under consideration as Hulu, which offers shows such as "Glee" and "Modern Family" over the Web, girds for battle against fast-moving rival Netflix (and better financed big technology companies Google and Amazon. The worldwide online video market is expected to hit $16.1 billion through paid and ad-supported services by 2012, according to ABI Research.

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