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Quibi, the streaming service founded by former Disney executive Jeffrey Katzenberg, hasn’t made the debut it was hoping for.
After raising some $ 1.75 billion from investors, the company has launched itself amid the pandemic with shows anchored by stars such as Liam Hemsworth and Chrissy Teigen.
But the concept, working in the crowded streaming market, has not taken off. News of the launch eventually turned to news of disappointing subscription numbers and then news of a potential sale, and now in speculation that Katzenberg might shut down the app completely.
After trying and failing to sell Quibi’s content catalog to companies such as NBCUniversal and Facebook, Katzenberg launched the idea of closing the doors of the company, according to information. This follows reports that the company had considered strategic options with Walt disney and Warner Media across the table.
Quibi has not yet responded to a request for comment, although a spokesperson previously called the sales negotiations reports “speculation. “
Meanwhile, perhaps Joe Biden’s presidential campaign has also heard the rumors: Quibi CEO Meg Whitman is among the names being considered for a cabinet post, according to Politico.
RVS REV UP: RV sharing, a peer-to-peer recreational vehicle rental market, has raised more than $ 100 million in funding led by KKR. Existing investor Tritium Partners also attended, the companies said on Wednesday. Travelers are choosing to explore nearby rather than far away – and RV sales have also increased. The Recreational Vehicle Industry Association said total new vehicle shipments in August rose 17.3% compared to the previous year. “Younger generations of travelers are discovering and embracing domestic travel,” said Ben Pederson, director of KKR’s Technology Growth team, in a statement.