- Product Type: Streaming Service
The idea for Quibi made “some” sense in theory. It revolved around short-form content that would ideally blend well into a world where people seemed compelled by 5-minute videos on YouTube. The issue is that for a paid streaming service, this does not make a lot of sense. It was started in August 2018 as “NewTV” initially and was led by founder Jeffrey Katzenberg and Meg Whitman as CEO. It even raised just under $2 billion from investors, so when it launched in April 2020, everyone seemed excited about its prospects. Yet it shut down by December 2020 and by January 2021, Quibi sold its entire library to Roku.