Streaming service Quibi scuttled after only six months
Wednesday, 21 October 2020 After only six months in operation, the much-vaunted $2.4 billion ($US1.8 billion) streaming service Quibi is calling it quits.According to the Wall Street Journal, co-founder Jeffrey Katzenberg called investors to tell them the...
American short-form mobile video platform Quibi has just launched apps for Apple TV, Android TV and Fire TV. The streaming service company announced the change in an updated support article. The company first made the content more shareable in May and followed that soon after with AirPlay and Chromecast support. A new report in The Information claims that co-founder Jeffrey Katzenberg has attempted to sell Quibi's programming to Facebook and NBCUniversal while telling others he may have to shut down the company entirely. As reported by The Verge, Quibi has struggled to scale since its launch, dealing with a lackluster reaction to its first collection of content and a drop in subscribers after its 90-day trial offered at launch ended.
The Wall Street Journal is reporting that streaming service Quibi is considering shutting down. Quibi has struggled to gain a foothold in the streaming industry since its launch in April. Business Insider reports that Quibi has failed to attract viewers and none of its shows have become major hits. Last month WSJ reported that Quibi was exploring multiple options, including a possible sale. The company boasted Hewlett Packard Enterprises CEO Meg Whitman as its CEO.
Ramin Talaie/Corbis/Getty Images Goldman Sachs won the bid for General Motors' credit-card business for roughly $2.5 billion, The Wall Street Journal reported Thursday. The Wall Street giant beat out Barclays, acquiring more than one million GM cardholders and the $8.5 billion they spend annually, according to The Wall Street Journal. This is Goldman Sachs' second co-branded card, following the Apple Card, as it looks to expand its consumer-lending business.