The $1 billion News Corp./NBC online video joint venture Hulu has acquired Mojiti and is using its platform for the basis of the upcoming Hulu service. Mojiti is a basic online video platform that also allows users to annotate videos at specific time points. The annotation feature is somewhat similar to another startup, click.tv, which is rumored to have been acquired by Cisco. It is surprising that Hulu would use a third party platform for their service rather than build it themselves from the ground up. They’ve already missed their promised Summer 2007 launch date, however, and probably think the acquisition will get them to market faster.