Quibi Closes It’s Doors After Failing To Find A Buyer

The streaming platform Quibi will be closing down, according to a letter from former Dreamworks Animation CEO Jeffrey Katzenberg and former eBay CEO Meg Whitman.

“Our goal when we launched Quibi was to create a new category of short-form entertainment for mobile devices,” they say. “Although the circumstances were not right for Quibi to succeed as a standalone company, our team achieved much of what we set out to accomplish, and we are tremendously proud of the award-winning and innovative work that we have produced, both in terms of original content and the underlying technology platform.”

Source:
USA Today