On March 22, 2007 the streaming service, Hulu was born in the wonderful state of New York. Creators John Kilar and Beth Comstock named their company Hulu after two Mandarin Chinese words, "calabash; bottle gourd" and "interactive recording". Kilar said that the name comes from a Chinese proverb. Hulu is also Mandarin for gourd. Kilar and Comstock wanted to change the way people watched television. Hulu was created in order to give their viewers access to hundreds of movies and recent episodes from their favorite television networks. The name was chosen in August of 2007, but it went live to the public just as an announcement that big things were coming soon. There was no content yet, but this only built excitement for what was about to come. Before the product began the private “beta” testing process, there was about $100 million invested into the streaming service company from Providence Equity Partners. The company also made many deals with other internet companies. On October 29, 2007, the HULU Syndication Network was the first product to be launched. This was developed and designed by the NBC Universal company. On March 12, 2008, Hulu was finally open to the public for millions of viewers to enjoy in the United States. Instead of going to the movie theater, Hulu is able to bring the movie theater to thousands of homes. How cool is that a streaming service has made so many movies and television shows available by just the tap of a few buttons? According to ComCore, Hulu had already reached 903 million video streams from just two years of being up and running. This almost beat the amount of video streams that the popular company YouTube had around this time. It seems that YouTube was already facing some heavy competition. By 2010, Kilar stated that the service had already made a profit in just two quarters and that the company would be able to make more than $100 million in revenue by the end of summer of 2010. This was way more than its income for the entire year of 2009. Hulu was making video streaming history. Hulu is now currently owned by the Walt Disney Company, NBC Universal, Providence Equity Partners, and the Fox Entertainment Group Company. The streaming service offers more than just movies and television from television networks such as FX, NBC, ESPN, ABC, and more, but in comparison to their leading competition, Netflix, Hulu releases new episodes just 24 hours after the premiere on network television. This has taken cable television to the next level. Whereas Netflix makes their viewers wait months or even years for new episodes to be released to the public, this also goes the same for movies. Hulu also provides live television for those who still enjoy watching cable television. The streaming service is only available in two countries which include, The United States and Japan. Since the year of 2020, Hulu has gained over 3.3 million subscribers and the numbers are only continuing to increase as the years go by.
https://www.zippia.com/hulu-careers-26793/history/
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