Jeffrey Katzenberg and Meg Whitman’s $1.75bn
Netflix competitor is to close after failing to meet subscriber goals
Jeffrey Katzenberg and Meg Whitman’s $1.75bn shortform content network Quibi is shutting down.
The mobile platform, which offered quick bites, known as “Quibis”, of films and shows lasting less than 10 minutes, launched in April with almost $2bn in investment, yet failed to meet its subscriber targets, amassing a string of negative reviews along the way despite big star names such as
Jennifer Lopez, Reese Witherspoon,
LeBron James and Steven Spielberg getting involved.