By Walt Hickey Quibi Quibi, the richly-funded mobile video-on-demand startup from Dreamworks founder Jeffrey Katzenberg and former HP CEO Meg Whitman, will fold after deciding they lacked the buyers or investors necessary to really mount a bid to woo new subscribers. Quibi raised $1.75 billion from backers that included Disney, Comcast, AT&T and ViacomCBS, secured $150 million in ad commitments from companies like Pepsi, Walmart and Anheuser-Busch InBev, and after a splurge on content and advertising is now down to
OK, I hope the placement of the Subscribe button was deliberate:
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Ah, crap."
If not, that is an amazing coincidence...