Hulu set for IPO

US online video service Hulu is set to float on the stock market, with a target valuation of US$2bn (€1.5bn).

The video site, which is owned by News Corp, NBC Universal, Walt Disney and Providence Equity, is in talks with investment banks about pursuing an IPO, which could happen as soon as this autumn. Hulu offers content from 225 sources, including the Fox network, National Geographic and Disney’s ABC. Supported by advertising, it is free to use and pulled in US$100m of revenue last year. It will soon launch a premium service, Hulu Plus, which will offer new series as soon as they air on TV for US$9.99 per month.