Plagued with growth issues, Quibi, a short-form mobile-native video platform, is shutting down, according to multiple reports. The startup, co-founded by Jeffrey Katzenberg and Meg Whitman, had raised nearly $2 billion in its lifetime as a private company. Quibi did not respond to requests for comment from TechCrunch. The company’s prolific fundraising efforts spanned prominent institutions in private equity, venture capital and Hollywood, all betting on Katzenberg’s ability to deliver another hit.
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Natasha Mascarenhas, TechCrunch
Wed, 10/21/2020 - 1:02pm
Topics: meg whitman techcrunch katzenberg s alibaba madrone capital partners goldman sachs jpmorgan sony pictures viacom warnermedia mgm youtubes snaps quibi rip rumors facebook media august netflix nbc quibi katzenberg jeffrey katzenberg hollywood disney warner information hbo apple reports company million content users video shutting startup months private model ability week launch business streaming coronavirus entertainment challenges earnings service numbers
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