RIP: Streaming App Quibi Is Shutting Down Barely Six Months After Launching

Well, that was short-lived.

If you cast your minds back to April, you may remember hearing that a new streaming app called Quibi had launched. While reports said it wouldn't available in Australia upon launch, we were able to download it without issue. 

Of course, what you were probably thinking was: does the world really need another streaming app? (No, it most certainly does not.)

Except, Quibi (short for "Quick Bites") promised to be different. The app was designed for people who wanted to watch content on their phones, sporting a Turnstyle technology that allows mobile users to see two different perspectives depending on their phone's orientation. 

On top of that, it was very, very, very expensive to make. 

In fact, as reported by the Sydney Morning Herald, Quibi raised $US1.75 billion from investors including Disney, NBCUniversal and Viacom. 

Quibi had A-list celebs promoting that app and still flopped pic.twitter.com/YAfIukyb1P

— Ahmed🇸🇴/A&R for Griselda Records (@big_business_) October 21, 2020

Did it sound kinda cool? Sure. However, Quibi's launch didn't exactly go well. 

The streaming service struggled to reach viewers, despite offering a 90-day free trial. After that, it was going to cost Aussie viewers $12.99 per month.

Additionally, it didn't help that people were stuck at home due to the coronavirus pandemic, which made it far more appealing to watch your fave movie on a television screen. 

Since launching, Quibi has also been caught up in a whole lot of drama. According to the New York Times, their Turnstyle technology is the subject of a lawsuit by tech company Eko, who has accused Quibi of misappropriating trade secrets and infringing on a patent for the technology that allows viewers to shift between horizontal and vertical views. 

Yikes.

Now, it has been officially announced that Quibi is shutting down only six months after launching. 

Almost done with my Quibi pitch. Excited.

— Zach Braff (@zachbraff) October 21, 2020

Founders Jeffrey Katzenberg (co-founder of DreamWorks) and Meg Whitman (eBay's former CEO) partly blamed COVID-19 for the app's poor performance. 

"The circumstances of launching during a pandemic is something we could have never imagined but other businesses have faced these unprecedented challenges and have found their way through it. We were not able to do so," Katzenberg and Whitman wrote in an open letter. 

"We want you to know we did not give up on this idea without a fight. 

"All that is left now is to offer a profound apology for disappointing you and, ultimately, for letting you down." 

We'll accept the apology. 

Katzenberg reportedly also told employees to listen to Anna Kendrick's song "Get Back Up Again" from Trolls to make them feel better after he announced they'd be losing their jobs. How... comforting? 

Episodes and films on the app were only 10 minutes long and featured some big names like Chrissy Teigen, Jennifer Lopez, Liam Hemsworth, Reese Witherspoon and Steven Spielberg. 

Teigan starred in Chrissy's Court, while Hemsworth appeared in the drama series Most Dangerous Game. 

But despite the platform even receiving some Emmys earlier this year, it just never took off. 

Apparently, Katzenberg and Whitman are going to start selling off the content and technology assets. 

"While we have enough capital to continue operating for a significant period of time, we made the difficult decision to wind down the business, return cash to our shareholders, and say goodbye to our talented colleagues with grace," they said in the statement.

Well, I guess this is goodbye Quibi. Nice, uh, not really knowing you. 

But honestly Chrissy’s Court could move to YouTube and I wouldn’t be mad about it.

— Amy Allison Lamken (@AmosLambskin) October 22, 2020

Header Image: SOPA Images / Contributor / LightRocket via Getty Images