Rapid crash: The company that founded the former Disney chairman closes its doors after raising $ 1.75 billion • The service was launched in April this year and lost users quickly
While almost all of us are still sitting at home due to the Corona plague, a new streaming service called Quibi joined the world in April with a pile of new and original content.
Last night (Wednesday) the company announced that the service is expected to close after only six months.
Behind the venture, in which more than $ 1.75 billion has been invested, are Meg Whitman (former CEO of HP) and Jeff Katzenberg, who was chairman of Disney.
In the beginning, Quibi was launched with three free months, and then for NIS 27.9 a month without commercials.
Contrary to all predictions, customers did not arrive and others were quickly abandoned.
So what's the reason for the crash?
Probably timing.
Quebec is intended for smartphones only (and some tablets) and not for a computer or smart TV.
It's a little weird to launch a service designed for mobile viewing, while everyone is at home in front of the TV.
And there are some significant differences from Netflix and its competitors.
The company has introduced a new format of content - series with short episodes of up to 10 minutes, hence the name Quibi.
It's short for Quick Bites.
Also, all the content is original and you will not find old series that you know from anywhere else.
