Friday, October 19, 2012
Hulu Investor Gets Big Gain As It Sells Stake Back To Hulu
Private equity firm Providence Equity Partners has sold its 10 percent stake in Hulu, the firm said Friday morning, getting a nice return on its investment in the online video streaming site. Providence Equity Partners had invested $100M in Hulu in 2007, and reportedly sold back its stake for $200M to the company this week. In a statement, Hulu CEO Jason Kilar called Providence an "ideal partner" over the past five years. Providence had helped fund the initial efforts to start Hulu.