Hulu got three $1 billion bids this past weekend, two from mystery buyers and one from DirectTV, according to Business Insider.Currently, Hulu has 4 million subscribers, and more than $700 million in revenues from both subscription and advertising. But it was valued at $2 billion back in April.Disney and News Corp have been trying to shed themselves of the video-streaming subscription service since 2011, to little avail. However, this time around the parent companies seem to be taking an auction-style approach, a best practice for acquisition sales I’ve previously written about.The company is keeping the bidding process private, but a former News Corp executive was a reported possible buyer back in April, and Yahoo was still in the bidding process as late as last week (leading to ripe speculation about what a Yahoo acquisition of Hulu would look like).While Hulu’s 4 million subscribers dwarf Netflix’s 27.9 million, and online video watching has dipped a bit (even though online ad viewing has increased), the site still has potential for growth, in my opinion. It’s taken on supporting original programming, and forward-thinking entertainers see the value in the platform, as evidenced by this quote from Seth Meyers in Variety:“‘You might be wondering why someone who works for a traditional network like NBC is at the Hulu upfront,’ he said. ‘Simply put, I’m hedging my bets. I don’t want to be working for the steam-engine company and wondering if cars are going to work.'”