Quibi explores a possible sale a few months after its launch

As officially reported by The Wall Street Journal this last Monday, September 21st, according to sources close to Quibi, three possible stages for the new platform, recently launched, are being evaluated. The main reason focuses on the poor results that it has been recording since its launch, to which Jeffrey Katzenberg, Co-founder, attributed the Coronavirus pandemic.

One of the possibilities is to put Quibi up for sale, a few months after its launch. According to The Wall Street Journal, conglomerates such as The Walt Disney Company, WarnerMedia, NCBUniversal, Amazon, Alphabet (Google) and others may be interested in acquiring the OTT. The other two chances are to start a new round of financing; and the third is to merge with a special purpose acquisition company (SPAC).

From Quibi, however, they have not expressed themselves on the sale rumors. ‘Quibi has successfully launched a new business and pioneered a new way of telling stories and a next-generation platform. Meg (Whitman, CEO) and Jeffre (Katzenberg) are committed to continuing to grow the business in a way that offers a great experience for customers, great value for shareholders and a great opportunity for employees’, they expressed from the company.

Quibi’s catalog consists of contents that last at least 10 minutes. The platform offers an ad-supported plan for a USD 4.99 monthly subscription; and another without ads for USD 7.99.