Quibi Is Shutting Down as Problems Mount

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Quibi Is Shutting Down as Problems Mount
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Quibi is shutting itself down, according to people familiar with the matter, a crash landing for a once highflying entertainment startup that raised $1.75 billion in capital

Quibi Holdings LLC is shutting itself down, according to people familiar with the matter, a crash landing for a once-highflying entertainment startup that raised $1.75 billion in capital.

The streaming service has been plagued with problems since it launched in April, facing lower-than-expected viewership, disappointing download numbers and a lawsuit from a well-capitalized foe.

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