Quibi
$1.75B for 10-minute videos nobody wanted.
CAUSE OF DEATH: TikTok was free.
Hollywood Money, Short-Form Video, Hubris
31% hot · 13 votes
Jeffrey Katzenberg raised $1.75 billion on the thesis that people would pay for short-form premium video content on their phones. TikTok was free. YouTube was free. Quibi lasted 6 months and burned through cash faster than a gender reveal party in a dry forest. The app's signature feature was that videos rotated when you turned your phone. Revolutionary.