Quibi, the streaming service based by former Disney govt Jeffrey Katzenberg, is exploring a number of strategic choices together with a attainable sale, the Wall Road Journal reported on Monday, citing folks conversant in the matter.
The corporate can be contemplating elevating more cash or going public by way of a merger with a particular objective acquisition firm, the report said.
Quibi mentioned it doesn’t touch upon hearsay or hypothesis.
Katzenberg informed Reuters earlier this 12 months the streaming service was downloaded greater than 2.7 million instances inside simply over two weeks of its launch in early April.
The video service, led by former Hewlett-Packard chief govt officer Meg Whitman, prices $5 (roughly Rs. 400) a month with advertisements and $8 (roughly Rs. 600) with out them.
Quibi provides leisure and information in episodes of 10 minutes or much less on mobile phones, with its programming that includes a big roster of A-list stars together with LeBron James, Chance the Rapper and Reese Witherspoon.
© Thomson Reuters 2020
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