Quibi, the mobile streaming app from Jeffrey Katzenberg and Meg Whitman, is reportedly shutting down six months after it’s April launch.
Via Deadline:
Deadline has learned that Katzenberg and CEO Whitman are about to have a call with investors this afternoon to explain their decision to wind down the short-form video service after little more than six months. They are exploring options including selling content or the entire service in the hopes that a buyer emerges.
The process of bringing Quibi to a close is expect to take several months we hear with subscribers receiving notifications in the near future. A staff meeting with Katzenberg and Whitman is also scheduled for later today.
Quibi is currently trending on Twitter as people react to the news.
Peep a few tweets.
I’m sad to hear about the demise of Quibi because it offered some really great shows like #FreeRayshawn, but my biggest gripe with the service was not being able to mirror the app to my television through my Apple TV.
As someone who uses my phone like a third hand, I couldn’t keep my phone tied up in a 10-episode series all the time to fully utilize the app.
Update: The app has announced Quibi’s last day will be December 1.
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