Quibi- the short-form mobile video startup founded by Jeffrey Katzenberg and CEO Meg Whitman is shutting just 6 months after its launch. Apparently, the struggling company failed to find a buyer as per claimed with the reports.
Toward the beginning of 2020, it was seen by some as the fate of “snackable” cell phone amusement. Shows were shot so they could be observed full-screen in both picture and scene mode, with clients ready to switch with a turn of their handset. Furthermore, the firm burned through many millions of dollars of the close $2bn (£1.5bn) it had raised to make a library of elite short, scaled-down the substance. Numerous media organizations joined, including the BBC, which had its own news show on the stage.
Be that as it may, incidentally things turned out badly.
“Once it started it was pretty clear that things weren’t going well”.
I’ve spoken to three content creators about why Quibi went so wrong:https://t.co/dZjcBoY68g
— James Clayton (@JamesClayton5) December 5, 2020
— The Hollywood Reporter (@THR) November 30, 2020
I know there’s a lot of gleeful snark in Quibi shutting down, but it’s not as much fun for all the creators and creatives who worked really hard to get stuff up on the app – and now may not have a new home. It’s really upsetting actually.
— Patrick J. Doody (@PatrickJDoody) December 3, 2020
Quibi taking it’s last breaths
As indicated by a Wall Street Journal report, Katzenberg collected it’s investors on Wednesday to reveal to them Quibi was collapsing. That came after a rebuilding firm employed by Quibi — which brought $1.75 billion up in subsidizing, including from major media organizations including Disney, NBCUniversal, and WarnerMedia — gave a rundown of alternatives to the organization’s directorate this week. One of the proposition: for Quibi to cut its misfortunes and screen the organization
The app only existed for 6 months. 😕🤦🏽♀️https://t.co/UuZbFSuPGe
— chloe x halle stan acct ✨ (@alexusb_) December 2, 2020
Farewell, Quibi, we hardly knew ye. After less than eight months, the streaming service from Jeffrey Katzenberg and Meg Whitman, which featured short-form videos designed for mobile viewing, is officially no more. The company announced in October that it would be shutting down, b
— Sales Agency (@SalesAgency_com) December 1, 2020