Quibi, the mobile streaming app from Jeffrey Katzenberg and Meg Whitman, is reportedly shutting down six months after it’s April launch.
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.