- Quibi comes from founder Jeffrey Katzenberg and CEO Meg Whitman. The company raised $1.75 billion in capital when it debuted.
A restructuring firm has been hired to offer a list of options for the company’s future.
- One of the options include shutting down the company entirely.
- The Information reported that Katzenberg “told people in the industry that he may have to shut down the company.”
More on Quibi
Quibi made its debut on Monday, April 6, joining the streaming services war. The shows were different than most since they were broken into smaller parts. So instead of an hour-long drama, the show could offer five, eight-minute episodes.
Shows that launched with the service include “I Promise,” which offered a look at LeBron James’ school for underprivileged students. “Chrissy Court” was a fun show like “Judge Judy” starring Chrissy Teigen. And there was even a reboot of “Punk’d.”