Quibi Streaming Service Shuts Down
posted on by Rafael Antonio Pineda
The Quibi video streaming platform confirmed on Wednesday that it will shut down, only seven months after its launch. Quibi founder Jeffrey Katzenberg and CEO Meg Whitman announced the shutdown during an investor conference call on Wednesday, but did not give a date for the shutdown.
Quibi (short for "quick bites") describes itself as "coming from Hollywood and Silicon Valley," stating that it streams "quick bites of captivating entertainment, created for mobile by the best talent, designed to fit perfectly into any moment of your day." The platform launched in North America on April 6. Jeffrey Katzenberg, co-founder of DreamWorks Animation, partnered with former eBay CEO Meg Whitman to launch the service.