Less than seven months after Jeffrey Katzenberg and Meg Whitman launched Quibi to remake the business of short-form video, the nascent streaming service is shutting down, said two people familiar with...
Quibi's Rise and Fall In Six Months
Promising short-form streaming content tailored for mobile device, Quibi burst onto the scene with nearly $2 billion in its bank account. The brainchild of Jeffrey Katzenberg and Meg Whitman, it had shows lined up from some of Hollywood's biggest celebrities. But it received a cool reception from critics and had problems garnering subscribers. Now, six months after its launch, Quibi is shutting down.
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Quibi Shutters Six Months After Launch
A Nearly $2 Billion Warchest
Problems With Quibi
Streaming service Quibi only managed to convert a little under 10 percent of its early wave of users into paying subscribers, says mobile analytics firm Sensor Tower. According to the firm’s new report...
What Did Critics Think About Quibi At Launch?
Read More on What Quibi Was
The streaming service founded by former HP CEO Meg Whitman and Walt Disney Company chairman Jeffrey Katzenberg will launch this April, and at this year's CES, the company sought to make clear it's no to...