Technology • Internet & Web

Quibi shuts down six months after going live

Shortform streaming mobile platform Quibi has announced it will shut down on December 1, just six months after going live.

"We feel that we’ve exhausted all our options. As a result we have reluctantly come to the difficult decision to wind down the business, return cash to our shareholders, and say goodbye to our colleagues with grace," the company wrote in a statement, stating that "the idea itself wasn’t strong enough to justify a standalone streaming service or because of our timing."

Quibi will attempt to sell its content and technology in the upcoming months.

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