The short-lived streaming start-up had plenty of talent and content but couldn't adapt to changing circumstances in a hyper-competitive space
Only six months after its launch, short-form video streaming startup Quibi announced it is now officially shutting down after it failed to attract any buyers. The news is not entirely surprising: Quibi has been struggling almost since the very start.
While paid subscriber numbers have never been made public, analysts estimate the numbers were profoundly underwhelming and that Quibi would miss its paid subscriber goal for the first year by the millions. Just look at its performance on Apple's App Store: the app dropped out of the top 50 list a week after it went live on April 6th and never recovered.