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Wednesday, October 21, 2020

Quibi founders confirm app’s shutdown just six months after launch - #MMBTech


The entertainment startup, which created short-form, mobile-based streaming content, is shutting down just six months after launching, founders Jeffrey Katzenberg and Meg Whitman confirmed. In an open letter, they said: “Our failure was not for lack of trying; we’ve considered and exhausted every option available to us.” Quibi famously raised over $1.75 billion (USD) in capital ahead of its launch.

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