Quibi Holdings LLC is shutting itself down, according to people familiar with the matter, a crash landing for a once-highflying entertainment startup that raised $1.75 billion in capital.
The streaming service has been plagued with problems since it launched in April, facing lower-than-expected viewership, disappointing download numbers and a lawsuit from a well-capitalized foe.
what is quibi
What I gather from the comments, the Quibi is NOT a cute Star Trek creature, but a celebrity-hyped train wreck of a streaming service that made one long for rabbit ears and plenty of commercial interruptions. Perhaps a literal “Bonfire of the Celebrities” game show might work?
Does that mean that Meg Whitman is shuttering any possibility of serving in a cabinet post?
If many invested 1.75 billion into a vision I have right now it absolutely wouldn’t be shutting down six months later. It would be boosting three major companies on the stock exchange at this very time.
Well fuck, there goes my Reno 911
:(
And a black kid with a great idea can’t get 10 cents for a startup. I’ve come up with better ideas sitting on the toilet.
Shows big money and fortune 100 CEO can't pull it off if product doesn't have a great market fit. Perhaps it was just someone's vanity project!
Shocker....🙄
what about subscribers? i like Quibi & think it was a good idea but it just didn't catch on
Mad and waste of money
All these streaming services will *singlehandedly* revitalize piracy.
I dont even remember it starting
Fun Fact: The Covid_19 pandemic outlasted the Quibi streaming platform 🙂
It was obvious this would fail. Yet they got funded. There's more to this.
There’s an explanation here that I haven’t seen anyone suggest yet. That it was all a big Producers scam from the beginning.
Its because of that sex doll show. Anna dating a 80 year old man and finds a living sex doll is not believable. Its weird and even with T-Mobile offering 3 free months I would not subscribe to it because of that show.
LMAO I FUCKING KNEW IT, IT ONLY TOOK OFF BECAUSE OF FORTNITE
I wasn't aware of this company...but just seen Meg Whitman is involved! 🙄
Reality check : All the money in the world can not buy demand for a products that nobody wants. and really smart, really talented people can still be really wrong.
camerouninema this is kind of funny considering that post you retweeted a few weeks ago that was comparing Quibi with Netflix, Hulu etc
What might have helped would have been to help eager prospects like me access the so-called trial version. Instead: customer service silence. Result: an unsurprising fate.
It was lame to begin with. They'd pay all of these big name stars to be in the ads and I'd get progressivly annoyed because of how fake and immature it felt. Advertisement sucked ass. The shows looked JUST as bad and fake.
They weren't kidding when they said everything would be short. Ouch! Too soon
Quibi is officially shutting down?!!! I figured this would be either a huge success or a huge failure. The concept of 5 minute TV shows delivered via smart phone is brilliant. But raising 1.5 billion just puts money in the pockets of founders. They won even with a failed format.
That’s too bad. Imma still need that Reno 911 though. ComedyCentral make it happen, please!
LoganPaul called it and explained way back!
Wait, some tried to setup a streaming service in an already crowded market? No, this has to be a money laundering scheme or something, it was risky for Amazon to take on Netflix but a startup thought they could just waltz in and have a share?
I am on the internet all day and I had never heard of this company before today, so they clearly did a poor job in terms of marketing.
I don't know what Quibi offers. I've seen some ads..that I ignored. Still don't know what they do. I'm betting Parler is next to go.
Never heard of it until now !
Never even heard of it...
PhillyD 1.7 Billion dollars ... wasted
What's quibi?
DNI said laptop is not part of Russian disinformation. Will Joe Biden deny that laptop FBI has belongs 2 Hunter & emails pertaining 2China & Ukraine are legitimate? If he won’t give an answer, why not?
In Dec 2019 FBI signed 2 pickup computer purported 2 B Hunter Biden’s from repair shop. Shop has Hunter’s signature 4 repair. When he never returned, after 90 days by contract, it became property of shop. News sources report they are investigating laptop for money laundering.
I didn't like how I could be only watch on my phone
Good riddance, especially that Teigen show mjinnocent
never before have I heard of Quibi I push new innovation within the global $1 trillion meetings & events industry. Now we desperately need such niche solutions..Did they give us a chance to create content and audience, guess not?!
This sucks! For the employees and for me. I was just getting used to it. 😩☹️I hope they don’t shut down the app just yet. I’m still watching episodes of Sexology. Quibi
This is the least surprising headline I’ve seen of 2020.
Yup they got rich on lower income and run for the hills. And we wonder what is going on in this country. Bet they will be charged with financial charges next year. Are they tight with the Clintons. Democratic Party. Or just assholes?
What the hell did they spend $1.75 billion on in 6 months? I've never even heard of it.
finally some good news i was sick of the awful youtube ads
Noted.
I saw the name around, but still don’t really even know what it was?
You mean people didn’t wanna pay for shows like Pedophile Teigen be a court judge... shocker.
Does this mean 'Skrrt with Offset' isn't getting a second season?
Never heard of them. Too many streaming services to choose from. Getting confusing
lol
cvmanouk
I can’t wait to find out about the fraud or front this was for something illicit. This whole system is damn fraud
I hope the content gets released.
Rip.
Pfft how am I not surprised? It's a stupid concept from the get go. Even the ADD audience target seems to agree with me.
This is the least surprising thing of 2020.
play stupid games, win stupid prizes. shite concept from its inception
I knew it would happen, why would you spend so much money hiring big name actors or whatever for shows only on your platform, which no one wanted to watch?
More than $2 billion down the drain.
Wow
Quibi..? Never heard of her. Next venture, try some marketing.
What's a Quibi?
IamAfricaBlack
Wanna be a millionaire? Start with two million and invest a million in Quibbi
Surprising exactly no one
Why have I never heard of this? I feel I'm always trying different services and apps but never heard of this one.. Oh well
Where the hell did the $1.75 Billion end up!?
Ah, to have a billion dollars to piss away...
Was that a fundraiser for Joe Biden laundering money?
NO ONE will notice.
Are we surprised about this? Nope.
There were a few shows that were pretty good. The problem is, in my opinion, do we really need another streaming platform?
Oh, good. Now I don't have to figure out what Quibi is
'Highflying' and Quibi don't belong in the same sentence.
I must be under a rock in a cave because I KNEW NOTHING OF THIS APP! Wow
I got a free 6 months and I barely watch it.
anyone else confuse this for the toothbrush company? 😂
I bet you someone sat in front of investors and used “ADHD world” as selling argument. Just plain dumb from the get go but people invested billions 😂 😜
If this means I’ll stop getting ads for it, yay
Never even heard of it and I’m online everyday. This is news? I’m confused.
what the hell is Quibi?
This sucks. I was really expecting this company to become the next Vine
Who even downloaded the app anyways? Seen ads for it but didn’t care for the short 10 minutes shows? 😂
Seriously, who didn't see this coming? 🤣
What’d it do with all that money
Guess they won't be back in a Quibi
Grand opening Grand closing
Do its investors get their mils back?^
Hey Quibi where's my cut?!? 😂😂😂
I guess Quibi only lasted a Quibi......
it was a horrible idea
ColinandSamir the breakdown idea for y’all 💡
So what happens to the content? Where does it go? Especially interested in THE princess Bride 'remake'
No more ads!
I mean the real failure here is the evolution of our species. If we had evolved to have our eyes one on top of the other instead of side by side, maybe movies in portrait might make sense.
smh, how do you raise 1.75bln and spend more than Shen Yun on marketing to fail so miserably when twitch streamers out there eating on camera for thousand dollar donations. Media execs are out of touch. Sell this content to YT
Some big popular ideas enemy is luck. Luck is quite essential after hardwork.
I promise you if Quibi was a pure-play stock, I'd have sold it short. The very first time I saw an ad for it, I thought it was the dumbest and gimmickiest, if you will, idea ever.
What abt my 6 months free subscription I got from T mobile
Stinks like RICOH & Anti-trust....
Does anyone know what Quibibi is
Well, duh
It was the crappy iPhone app that did em in.
Good now i dont hVe to see those shitty ass ads on youtube. FINALLY
WTF is Quibi
Bummer
Shit was over in a quibi
Great concept... but too expensive for what it was. I wonder if we're getting to critical mass with streaming service...too many and too much competition
Honestly it was a terrible idea.
hated seeing those ads
Two things, I completely forgot this was an app and second this will go down as the funniest thing ever😂
Oh, so that ADHD exploitation scheme with the cringiest ad campaign in history failed in less than a year? Who would have seen that coming?
I basically thought that it was a scam until I decided to give it a try with just a little 1,500Euro and I got 10,500Euro in 7 days nancyhughes37 it was so amazing and everything works out well
That's one expensive experiment
You finish a whole quibi series in like an hour. I don't know how they got all those investors and celebrity backings because that was a joke. Same with those instagram folks making their content app, should have learned from them
Fraud?
What happened to the money?
I’ll admit, the platform looked like it had some really good content. Just couldn’t stay in the game long enough to build a strong subscriber base
More people would have used it if they had listened to the millions of us asking for the option to stream it.
I’m a Dot Com Pioneer. Would now be a good time to say this makes me nostalgic? Or are we pretending that couldn’t happen again?
SPAC! SPAC! SPAC!
Glad I'll never have to see that cringe ass sex doll ad or the one wit the douche being chased for 24 hours on Youtube ever again. So win, I guess. Now do TikTok. But the ad wit the chick in pink lifting her leg above her head can stay indefinitely. Would smizzash fo' sho'.
I'm still surprised on how I made so many profit after seeing many person's complaining of being scammed, this is just too amazing. Am still shocked thanks nancyhughes37
It's a shame because I liked some of their stuff way better than Netflix or Hulu. Netflix has been trash for years overall.
1.75 billion. Wonder how many people that would feed.
well good thing i have a free month of quibi watch the shows before the app is done lol
Nice
Let's be honest Quibi just sums up why 2020 is a failure of a year. I mean my year ain't bad, but still. RIP Quibi as a crapy service by a former Disney guy who won't let go of trying to be hip and trendy.
someone is walking away with a pile of cash
As a Data Analyst, I think Quibi did not arise from diligent market research that showed a clear need & lack of supply of 10-minute shows. The CEO just came up with the idea because he thought it sounded cool. If any market research was done, it was to validate the idea.
I hope companies learn from this in the future, dont showing me ads for your product 30 times a day and maybe I'll check out the app, otherwise I'll not download it out of spite
Sigh👀
You say raised, I say stolen.
In related news; a tree fell down in the forest.
Good
TMobile got me a free trial for this app. I would never pay for it, but I do use it and it keeps me entertained in my lunch breaks at work, or when I'm waiting for something
kibianderson lol
No shit.
okay who didn't see this coming
Talking to smart people about interesting topics is one of the real benefits of being in Bitcoin. Thanks nancyhughes37 I got it big this time. I'm grateful. I got a huge profit's investing under her management.
I saw this coming but was sooner than I expected
Because the entire concept was STUPID.
Who?
sweetladykk6 That was quick ...
Finnaly. I was getting tired of their repeat ads.
I just want to know, did *anyone* sign up? Or total awkward crickets for six months?
popeAdope RIP Quibi!
No one who heard the concept saw this coming. No one 😄 At least no one who wasn't a billionaire/bank afraid to tell their fellow [M]illionaire this was a dumb idea.
Well do it in a Quibi xd
Can’t push that kind of niche when the market is already saturated. How tf did they get 2 billion dollars worth of investments and people with life changing inventions can’t get as much? Guess it’s all about who you know or how connected you are...
oh wow, how unforeseen. it's format was so universally loved and uncontroversial. rest in sarcasm, quibi
I still don’t even know what Quibi is
That was quick!!!! Just like one of Theo episodes lol !!!
To be honest, I never even heard of Quibi but I would have checked it out if I did. That’s just bad marketing
Where's ALL the CASH GONE?
I hope the original content on there gets sold off / continued (or whatever) to a different platform......I’m interested in that one series starring Dane DeHaan, uhhhh... “The Stranger”.
Its business timeline was as long as a... Quibi
it was dead on arrival
This thing was doomed to fail. Even if the pandemic hadn't hit it would have hardly made it a year. Short videos to watch on the go is already YouTube's things and they do it without spending money on big actors and scripts
😲
Haha Jeffrey! In your face!
Not surprised the streaming service wasn't compatible with my phone.
gregisenberg So the answer is not Quibi haha
Honestly, I never even knew what the hell that app was for.
I could have told you this 6 months BEFORE launch. Quibi is what happens when money and ego meet tunnel vision.
Qu*bi B A D
All the money .gone
Not even a merger? Wow
Who didn't expect this?
Thank god. Those ads were so annoying.
Smh, TMobile offering Quibi for free couldn't even save the medium.
Just curious, why “highflying” and not “high-flying”? The former is much harder to read.
No surprise here, Whitman sucks and so does this service
Bye
It was too forced
Oh no, who could have possibly foreseen what was essentially a paid-for youtube knockoff failing?
Does this mean they’ll stop showing me 5+ ads per day on youtube?
So, ah, where’d that 1.75b gothough?
haha yay
Classic turnkey operation.
How long will this company last? Oh, just a quibi.
Good.I’m tired of this country putting celebrities on the pedestals that they do.Quibi thought they could finesse up by just putting a bunch of celebrity faces over a below average product and it would boom.People are tired of celebrities ruining everything with their “influence”
What's a quibby?
This is easily the least surprising development of 2020.
The rich speculators have sufficient income and tax loopholes to shelter and benefit from their Quibi losses. The real losers are average American taxpayers, they will once again be subsidizing the rich speculators through less tax revenues from the rich Americans.
How many golden parachutes were deployed in this totally unforeseeable outcome?
Cc Masayoshi Son
i never heard about quibi until now...
The market for streaming services is getting more competitive and more expensive. It used to be where you were able to access the content you wanted (Netflix/Hulu), but then companies started getting greedy and wanted a slice of the streaming pie.
Proof there is a God
Umm yea. I don’t want to watch an entire movie on my phone. Would have worked for smart tv
It was kinda trash
Good for Netflix’s
Quick get rich scheme... They blame it on covid... So yeah, covid doesn’t only kill people and small businesses but it also wipes out 1.75 billion....quibi 2020-2020
I think that’s a problem on the investment side with capitol companies to eager to take risk to early in technology that is not proven
Is this news?
worldcatlover I quit
Microsoft couldn't do it, now Quibi can't do it - who would've thought
Like is this a surprise to anyone?
What I don’t believe it!? Kidding. **it’s just what I expected**
Never heard of it. Someone has made a lot of money though!
Because it fucking sucks LMAO
Someone made some money!
Katzenberg’s was my first job in 2000. Failed abruptly as well.
Everyone, can we get a F in the chat?
🤣🤣🤣🤣🤣🤣🤣🤣🤣
highflying?!
Netflix and Roku crushed them
Me and the other 10 subscribers are going to be sad.
Sounds like it lasted a Quibi.
I believe chrissy teigen single handedly doomed quibi 💪
Too many streaming services...
Stream Sweetest Savage by Sheri B
who cares
Well, at least a couple of folks got a new boat...
Who?
Saw that coming Quibi was trash
So Biden!!!
Never heard of it. Good riddance.
No more shitty ads
Well they lasted just a quibi
Clearly this was a pump and dump, many got rich and many lost what they invested, suckers born every minute
utomisphere thoughts?
WORST APP EVER! 5 min clips of TV shows? BITCH THATS YOUTUBE!
Ain't nobody buying that shit. Basic ass tv shows looking like yt originals, move around.
$GNUS would have been a better use of the 2 billion
Can we all say.....DUH?!!! DUMBEST idea.......ever.
Big surprise I called it day one
That was Predictable. This Market is already Saturated. Unless something dedicated to a Specific type of Viewers by comes out...its no use
This sucks. I loved the short episode format.
That lasted a Quibi.
Biggest issue was allowing it on smartphones only. Don’t know whose nine head idea that was. I would have gave it a chance if it would have been on more devices
HyperChangeTV
L
😬
The only people surprised are the investors and the “leaders” of this poorly thought out and tested idea. If you are going to make a bet this big, run some real world validation. 🤷🏽♀️
This unfortunately looked destined to happen because I mean wtf is Quibi!?....and no I don't care for an explanation of what it was. And that's why they gone.
tik tok killed it
Hopefully this 'WON'T be the beginning of a domino effect for other streaming services. celebrityspotlight influencers
oh nooooo, what a shaaaame
Can’t wait for the Netflix 10 episode series about this.
EliotETC rickyftw
Well time for all the exclusives to go to Netflix 😂
Who?
Thank fuck
I dunno. Looks like a 'cash-in-pocket' kinda hustle.
Another failed Trump business
Now does Netflix,Hulu and apple get to strip it for parts ?
Micahwilb
Shocker
Well no shit. I didn’t know one single person who had it. I don’t wanna watch a short length show, and pay for it?!... no thanks.
Quibi just sucks
Yet another failure for Meg Whitman. Good grief lmao
*pretends to act surprised*
I was actually just starting to get into this. Though I wouldn’t have ever actually paid to use it. I got a 6 month free trial through TMobile . Thought it was ridiculous for awhile but then started getting into some of it.They brought way too many a listers who demand to much $
I'm literally not surprised at all, next you're gonna tell me that water is wet
Hallelujah
I would’ve watched half of those shows if they weren’t on that app
L
Whenever people or businesses lose, somebody else gains.
Yay! Now I'll stop being flooded with those terrible ads!
Actually kinda surprised
How the fuck do you blow through 1.75 billion dollars worth of investor cash? Did they find a cure for cancer and not license it? Seriously this is pretty screwed up. I don't care if you call it quits but don't do it with someone else's money. Jail time people.
One of the many insane stories of 2020
I guess they lasted just a Quibi
they fell off in a quibi
You mean the app that kept shoving their annoying ads down my throat every day
Now to the real important questions: How did that $1,750,000,000.00 get spent and what's left of it?
What tf is Quibi
There are too many streaming services now, content is hard to find and people have to pay more to get it all. Streaming services were supposed to be cheaper than cable but there are so many now that the price to get all the content is going up fast. Quibi adds nothing new.
This was the lamest idea. there were already so many mediums to broadcast contact - should have just leveraged one of those and nabbed ad revenue. idiots...
A service nobody needed or asked for.
Shady af
Barnes_Law I deleted the app after they went woke. But I really enjoyed it up to that point. And it was free through mobile company.
Still no clue what this was.
Taken behind the shed like a street dog obamoracle
'once highflying'
MzLawson1
Ha ha. What a shit show.
They brought back Reno911 so they’re ok in my book
The app that no one asked for, and no one wanted.
Oh nooooo!!!
NOO
Run by a NeverTrumper angling for a Biden admin position.
When you like your capital efficiently allocated.
Hahaha. They spent the last dimes during the MLB playoff series.
tell me this time is no SoftBank around
...and nobody is surprised. Failure from the get-go.
rickyftw EliotETC awwwww
I’m shocked that a company with a terrible idea and one of the dumbest advertising campaigns in history was not a success.
1HQDsWmU93sgeM76TDJVveqjKty9svFvEm (This is my Bitcoin account) I'm an entrepreneur looking for an opportunity
Good...no more annoying half assed ads that take up our time
On the list of LEAST surprising news stories of 2020
aexm 🥱
One glaring fundamental two-word problem from the outset: Meg Whitman.
you could call that a ... quick bite
Katzenberg a falling up artist.
Good. It was abysmal. Certain shows were funny once upon a time but shouldn’t be resurrected.
Oh, the horror, jonlovett
Hahaha the network that birthed Chrissy's Court didn't make it? Who would have thought that a reality court drama starring Chrissy Teigen wouldn't be a hit? 😂😂
crookedmedia even you couldn’t keep it alive
Not surprised by this news really.
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