Tuesday, December 1, 2020

Quibi Officially Shuts Down

Los Angeles-based short form, streaming video startup Quibi is officially dead, a mere month after saying it would sell off its assets. High flying Quibi--which raised more than $1.75 billion--was backed by Jeffrey Katzenberg and Meg Whitman, but failed to gain any traction before its spectacular flameout. Quibi had been trying to start a service focused on original, short form videos on mobile platforms, with a major effort funding development of content.