(TECH INFORMATION) Despite getting major money from big players, Quibi is shutting straight straight down just a few months after launch. just just just What generated their downfall?
26, 2020 october
Just 6 quick months after releasing its platform, Quibi has made a decision to pl the plug.
The streaming that is mobile-only vision would be to produce short-form videos with greater manufacturing value than compared to competitors like YouTube or TikTok. Having enlisted big names such as Steven Spielberg, Ridley Scott, Jennifer Lopez, and Lebron James, Quibi had high hopes for just what the solution cod fulfill. Within an available page posted to moderate, founding business professionals Jeffery Katzenberg and Meg Whitman cited timing and also the concept of mobile-first premium storytelling perhaps perhaps maybe not being strong enough because the main reasons behind shuttering.
вЂњAs entrepreneurs our instinct is constantly to always pivot, to go out of no rock that is unturned if you find some cash runway left вЂ” but we feel that weвЂ™ve exhausted all our choices.вЂќ The page claimed, вЂњAs an escape we’ve reluctantly arrived at the diffict choice to wind along the business, get back money to the sharehders, and leave behind our cleagues with elegance. Continue reading “Failure to introduce: QuibiвЂ™s short-form platform is short-lived”