Quibi folding after just six months of operation

Quibi, the United States-based short-form streaming video service that featured several high-profile sports programs and had Meg Whitman, co-owner of Major League Soccer’s FC Cincinnati, as its chief executive, is shutting down after just six months of operation.

Despite raising $1.75bn in startup capital and existing amid a meteoric industry-wide consumption this year for digital video, Quibi was never able to find a foothold with consumers amid strong competitors such as Disney+, Hulu, and Netflix, among others.

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