PE-backed mobile streaming app Quibi shuts down: Deadline

Quibi, a mobile streaming app, is shutting down after six months of operation, reported Deadline, an entertainment news outlet.

Quibi, a mobile streaming app, is shutting down after six months of operation, reported Deadline, an entertainment news outlet. Quibi, which was founded by movie producer Jeffrey Katzenberg and led by ex-Hewlett-Packard CEO Meg Whitman, raised in total $1.75 billion in funding. Among Quibi’s backers were Madrone Capital Partners, The Walt Disney Company, Time Warner and Alibaba Group.

Source: Deadline