Wal-Mart acquires Vudu movie service for $100 million

Wal-Mart is said to be agreed to buy Vudu, a Silicon Valley start-up whose three-year-old online movie service is being built into an increasing number of televisions and Blu-ray players. Terms of the acquisition were not disclosed, but a person briefed on the deal said the price for the company, which raised $60 million in […]

Wal-Mart is said to be agreed to buy Vudu, a Silicon Valley start-up whose three-year-old online movie service is being built into an increasing number of televisions and Blu-ray players. Terms of the acquisition were not disclosed, but a person briefed on the deal said the price for the company, which raised $60 million in capital, was over $100 million. The acquisition adds a forceful player to what is already a crowded field of companies aiming to deliver streamed entertainment to the living room. “Wal-Mart introduced a digital music download store in 2004, but the effort has badly lagged behind iTunes and even Amazon’s MP3 store. And Vudu, based in Santa Clara, Calif., and backed by the Silicon Valley venture capital firms Benchmark Capital and Greylock Partners, has not turned a profit. It first emerged in 2007 pushing a sleek black set-top box, which people connected to their TVs to gain access to thousands of Hollywood films,” mentioned New York Times.