Entertainment
The Australian Government’s Future Fund Invested $50 Million Into Failed Quibi – Gizmodo Australia
Australia’s Future Fund made a significant investment into the failed streaming service Quibi, according to reporting from the AFR.
Quibi looks a lot like a very bad investment.
When the much-hyped streaming service was started earlier this year, it seemed like it had a shot.
It had a lot going for it: more than $2.4 billion invested by big name companies, exclusive content from high profile creators and a world population suddenly confined to their homes.
Fast forward six months: the widely panned service announced it will shut up shop. Despite a three-month trial and 9.6 million downloads, the service failed to find a significant…
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