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Streaming service Quibi scuttled after only six months – NEWS.com.au
Streaming service Quibi scuttled after only six months
After only six months in operation, the much vaunted $2.4 billion ($US1.8 billion) streaming service Quibi is calling it quits.According to the Wall Street Journal, co-founder Jeffrey Katzenberg called investors to tell them the service is shutting down. The report said Katzenberg and Whitman made the decision to scuttle Quibi and return what money they could to investors rather than prolong the inevitable.
The quick death of Quibi will go down as one of the most high-profile and embarrassing corporate…
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