Watch CNBC's interview with Quibi CEO Meg Whitman and founder Jeff Katzenberg, hedge fund Elliott Management financed Eko's lawsuit. Quibi, the big bucks short-form streaming service that launched in April, will shut down after just seven months of operation, according to a report in the Wall Street Journal.. Roku has acquired the rights to original content from Quibi, the mobile-video app that shut down last year after only 6 months. Quibi officially shut down Tuesday. Streaming service Quibi, featuring original shows with episodes of 10 minutes or less, will shut down 6 months after it launched. Dade Hayes, Jill Goldsmith and Dominic Patten. The company, which was founded by Hollywood producer Jeffrey Katzenberg and led by CEO Meg Whitman, raised $1.75 billion ahead of its launch in April. As we reported yesterday, Quibi is shutting down.Yup, the short-form mobile streaming service that was launched just six months ago, is closing up shop. It failed. Wall Street Journal reports that a restructuring firm had been brought in to decide what should happen to Quibi … A week before that, Quibi was supposed to debut a new show from the Russo Brothers, known for directing Marvel blockbusters including Avengers: Endgame, the highest grossing movie ever. There’s no word on what will happen to the service’s content after that date. Quibi, the mobile streaming service launched with nearly $2 billion in capital by Jeffrey Katzenberg and Meg Whitman, is shutting down. Wednesday, a spokeswoman again declined to characterize how long the service will be available. Short-form video app Quibi is shutting down after just six months. Quibi, the Hollywood streaming service that shut down in December, sold the global distribution rights of its shows to Roku. Quibi, the shortform video service focused on mobile devices, is officially shutting down. By Frank Pallotta and Clare Duffy, CNN Business. Quibi doesn't own the programming on its service, according to reports. Quibi Has Officially Shut Down. We want to hear from you. According to the service’s FAQ site, Quibi will shut down today, December 1, just eight months after its launch… Under creator-friendly deals, many of its shows were made on Quibi's dime, and then Quibi licensed the programming for a two-year exclusive period. Quibi had already scheduled new programming to premiere next month: The second season of prank show Punk'd, its most popular title at launch, was set to come out Nov. 16. "Quibi was a big idea, and there was no one who wanted to make a success of it more than we did," Whitman and founder Jeffrey Katzenberg said in a joint open letter. After a short and costly run in the streaming marketplace, Quibi has shut down and the app is no longer available. Quibi, the struggling short-form streaming company founded by Jeffrey Katzenberg, is set to shut down just seven months after its launch, TheWrap has learned. Analysts say shows … Katzenberg, who ran Disney from 1984 to 1994 and also co-founded Dreamworks Pictures, and Whitman launched the app in April 2020, right at the beginning of the coronavirus pandemic. Update 2: October 23, 2020 – Quibi has revealed that the service will shut down “on or about December 1”. Update 2: 2020/10/29 11:37am PDT by Corbin Davenport. And it was hit with a lawsuit from interactive-video company Eko, which claimed Quibi's rotating-screen technology was a rip-off of its own. Over the coming months we will be working hard to find buyers for these valuable assets who can leverage them to their full potential.". Less than seven months after launching, the high-flying streaming service Quibi has shut down. Quibi, the short-form video app founded by Hollywood mogul Jeffrey Katzenberg, is calling it quits after just six months. The fates of Quibi's shows is unclear, whether they were created by Hollywood heavyweights or not. The company is shutting down after failing to find a buyer. However, no later than the first of the month Quibi has shut up shop. Quibi said subscribers will receive separate notifications about the final date they can watch the service, without specifying any timeline. Shortly after Quibi's launch, there were already signs that it had failed to sign up subscribers for its $4.99-per-month streaming service as it fell in Apple and Google's app store rankings of popular apps. Data is a real-time snapshot *Data is delayed at least 15 minutes. Quibi, the short-form entertainment service for mobile devices, announced on Wednesday that it will shut down, just over six months after its service launched. 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