It wasn’t good, it wasn’t well-executed (no screenshots?!), and the content was a true mixed bag with few gems.
On April 6, Quibi arrived, a big hard launch with loads of advertising, celebrity star power, and two experienced executives leading the way.
By October 21, 198 days later, Quibi was gone.
(And it was on free trial for 90 of those days).
~$1.8B was raised, around $350M is left from reports.
A fairly sad official announcement from Quibi HQ capped off the venture, which said it was winding down, and included the following quote:
“And yet, Quibi is not succeeding. Likely for one of two reasons: because the idea itself wasn’t strong enough to justify a standalone streaming service or because of our timing.
“Unfortunately, we will never know but we suspect it’s been a combination of the two. The circumstances of launching during a pandemic is something we could have never imagined but other businesses have faced these unprecedented challenges and have found their way through it. We were not able to do so.”
The true Quibi post-mortems, via later books or documentaries, will be interesting.
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Quibi’s $1.8B bet fizzled out but was it all bad? Plus the Huawei Mate 40 drops any second, and more tech news today.Android Authority