Wednesday, October 21, 2020

Report: Time Might Be Running Out For High Flying Quibi

Time might be running out for Los Angeles-based mobile video streaming service Quibi, according to a report, which says that Quibi founder Jeffrey Katzenberg is considering shutting down the company. The high flying content startup--which has been seeing lackluster uptake by consumers--apparently also has also been trying to sell its content library to such companies as NBCUniversal and Facebook. Quibi has raised close to $2 billion for its efforts. The company's high profile comes in part because of founders Jeffrey Katzenberg and Meg Whitman.