Jason Kilar, one of the most visible luminaries in the streaming media industry, announced that he will be leaving Hulu during the first quarter of this year.
Along with the 41-year old Kilar, who grew Hulu from its very first days in 2007, CTO Richard Tom will also be leaving the company.
"I’ve decided to depart Hulu in Q1. I am currently working with the Board to ensure there is ample runway to manage this transition," Kilar wrote in a blog post. According to the executive, Hulu posted $695 million in sales in 2012, has accumulated 410 content providers, more than 1,000 advertisers and reaches more than 38 million users every month. The service claims it currently has more than 3 million paying subscribers. Hulu currently employs more than 600 people.
Hulu is owned by ABC, NBC and News Corp. The future of the company is unclear, but ABC and News Corp. announced last year that they would not sell the site despite reported interest from companies including Apple, Google and Microsoft. Kilar is believed to be working on a new business supported by about $40 million in cash he received for his 2 percent stake in Hulu in 2012.