SHORT-FORM VIDEO STREAMING SERVICE QUIBI TO SHUT DOWN

Highlights

• Quibi was founded by Hollywood producer Jeffrey Katzenberg along with former HP CEO Meg Whitman around six months back and was successful in raising $1.75 billion ahead of launch

• Companies like Disney, Comcast’s NBCUniversal, and AT&T’s WarnerMedia were among the top investors in Quibi

• Quibi while announcing its shut down said this decision was taken to safeguard sha....