Apparently, if you want to start an online video site, you must come up with a name that is two syllables and heavy on the vowels. Cases in point:
Soon, there will be one more to add to the list: VEVO. The site is a partnership between YouTube and Universal Music Group to feature the record company's video content.
It was just last December that Universal was part of talks with other music companies to form a Hulu-like site for music videos. It seems that YouTube stepped in and was able to at least stave off one of the big guys from starting the thing.