Quibi

Quibi ( ) was an American short-form streaming platform that generated content for viewing on mobile devices. It was founded in Los Angeles in August 2018 as NewTV by Jeffrey Katzenberg, and it was led by Meg Whitman as CEO. The service raised $1.75 billion from investors. It launched in April 2020, but shut down in December 2020 after falling short of its subscriber projections. In January 2021, Quibi's content library was sold to Roku, Inc. for less than $100 million. The platform's concepts and failure inspired widespread mockery.

==History== ===Pre-launch=== Quibi was founded in August 2018 as NewTV by Jeffrey Katzenberg and was led by Meg Whitman as CEO. In October 2018, NewTV was renamed Quibi. The service targeted a younger demographic, with content delivered in 10-minute episodes called "quick bites" (with the name Quibi derived from "QUI-ck BI-tes"). In 2018, Quibi raised $1 billion in funding from major Hollywood film studios, TV companies, telecommunications companies, technology companies, banks, and other investors including The Walt Disney Company, 21st Century Fox, NBCUniversal, Sony Pictures, WarnerMedia, Viacom, RTL Group, FremantleMedia, eOne, Lionsgate Studios, MGM, Madrone Capital, Goldman Sachs, JPMorgan Chase, Alibaba Group, Liberty Global, and ITV.