Quibi has decided to shut down after failing to find a buyer, according to a new report
According to a Wall Street Journal, Katzenberg called investor Wednesday to tell them Quibi was shuttering. That came after a restructuring firm hired by Quibi — which raised $1.
75 billion in pre-launching funding — provided a list of options to the company’s board of directors this week. One of the proposals: for Quibi to cut its losses and shutter the company.that Quibi, which has about 200 employees, has set an all-hands internal meeting for 6 p.m. ET today. Katzenberg, according to aQuibi reps did not respond to a request for comment.
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