After several tumultuous months, the quirky short-form video streaming service Quibi is calling it a day.
Following earlier reports that Quibi had been courting potential buyers, company leadership appeared to be looking to offload the service onto someone else.
Quibi bet big on its so-called Turnstyle technology that lets mobile users see two different perspectives depending on their phone’s orientation.
But on Wednesday, Quibi founder Jeffrey Katzenberg notified investors that he was indeed shutting the service down mere months after launching in April.
Gizmodo reports Katzenberg has repeatedly blamed the pandemic for Quibi’s failure to launch.
However, Quibi failed to meet viewers where they preferred to watch--particularly after the launch of rival services like Peacock and HBO Max.
