After raising nearly $2 billion in funding, Quibi is shutting down. Jeffrey Katzenberg and Meg Whitman’s short-form video startup started informing investors of the decision on Wednesday.
The company has struggled for six months to attract subscribers, an obstacle further heightened by the pandemic.
Previously, Quibi was also exploring a sale option, however, now with it shutting down, despite still having hundreds of millions in the bank indicates that Katzenberg and Whitman see few long-term solutions for the business.
A town hall meeting with employees has also been scheduled, at which they will learn more about the fate of the business.
Dow Jones & Co., the parent of The Wall Street Journal, Barron's, MarketWatch.com and Investor's…
The Wall Street Journal is seeking a White House reporter in Washington, DC, to break…
Ben Pershing, the politics editor of The Wall Street Journal, is leaving the news organization.…
New York Times executive editor Joe Kahn sent out the following on Friday: A January 2010 front…
Brent Jones, the senior vice president of training, culture and community at Dow Jones, is…
The Wall Street Journal is looking for an editor to lead its coverage of logistics…