Today in Most Innovative Companies

News of note from our Most Innovative Companies, including Hulu, PG&E, and Huawei.

Bono

Hulu: How long do you spend catching up on missed episodes of Glee and Saturday Night Live online? Apparently more than you did a year ago. According to comScore, Hulu's viewer engagement is up 120% year-over-year in February 2010 to 2.4 hours per viewer. While comScore didn't breakdown YouTube's hourly viewership, of the 132 million visitors, each averaged 89 videos, totally 11.9 billion videos watched—Hulu averages 23.3 videos per viewer. Interestingly, the average online video's duration is 4.3 minutes, meaning that, for Hulu to reach such a long engagement period for such a low video count, their users must be glued to the screen.

PG&E: California's main supplier of energy, PG&E, is going after a federal license for a wave power plan that would produce electricity through the motion of ocean waves. The project could potentially produce 5 megawatts of power—enough for about 3,700 homes—but it faces heavy opposition from fishermen, who fear it will affect their trade. If approved, the structure, which would be anchored three miles off the coast of Northern California, would cost more than $50 million, and would be the first ocean wave energy farm to be built in the U.S.

Huawei: The rumor mill has been turning as of late over a potential acquisition of Palm, the maker of the critically successful (but commercially unsuccessful) Pre and Pixi smartphones. Reuters reported today that Palm actually set up "preliminary discussions" with Huawei over a possible buy-out, though nothing has been confirmed. Elevation Partners, the private equity firm founded by Bono, owns a 30% stake in the company, but shares have plummeted 72% since their initial investment, prompting many to appoint the Irish-rock-group frontman the worst investor in America. But while Palm's shares have been struggling to stay afloat in recent months, they have been surging lately over merger speculation, and some believe its price will soon outweigh it's value, ending any possibility of an acquisition.

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