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TechCrunch posts a rumor that NBC and News Corp. joint online video venture, recently dubbed Hulu, has purchased a little known company based in China called Mojiti to power its video platform. If true, it's just the latest sign that the oft-delayed Hulu doesn't stand a chance of competing with popular video destination site YouTube. Silicon Alley Insider thinks it's better to buy than build, but Hulu went the entire summer without a name or any details rather than delivering on a promised launch. When Hulu finally did announce its name, an October beta was mentioned. Mojiti is primarily a video annotation service, an interesting but minor addition to what is currently nonexistent. Purchasing a little-known, eight man operation out of China with a niche focus for an alleged $10 million at the eleventh hour to power a delayed and highly-criticized video platform is anything but a good move.