Quibi is for sale. But what’s it worth and who might bid?

Quibi can’t catch a break, even after becoming a two-time Emmy-winner.

Less than six months after Jeffrey Katzenberg and Meg Whitman launched their short-form video streaming startup, the company’s drama “#FreeRayshawn” nabbed acting trophies for stars Laurence Fishburne and Jasmine Cephas Jones.

The accolades from the Television Academy apparently didn’t impress Emmys host Jimmy Kimmel. The ABC late-night comic quipped during the Sunday night broadcast that the newcomer had “10 Emmy nominations this year, including outstanding short form comedy or drama and dumbest thing to ever cost a billion dollars.”

Then, the next morning, the media, tech and entertainment industries were buzzing with reports that Quibi has engaged JPMorgan Chase & Co. to help the company review a range of strategic options, including a possible sale, according to two people familiar with the matter who were not authorized to comment. The Wall Street Journal first reported that Quibi was considering

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Quibi Reportedly Exploring Possible Sale Amid Struggles

Short-form video streaming platform Quibi may be put up for sale after struggling to attract subscribers amid the COVID-19 pandemic.

Quibi is exploring a possible sale among several options under review with advisers, the Wall Street Journal reported, citing sources familiar with the matter. The company is also thinking about raising more money after its initial $1.8 billion cash raise, or going public through a merger with a special purpose acquisition company.

Quibi, an abbreviation for “quick bites,” was founded by Disney and DreamWorks alumni Jeffrey Katzenberg and led by CEO Meg Whitman, formerly of Hewlett Packard Enterprise. The service was designed to work on mobile devices, for a monthly subscription fee of $5 for ad-supported access and $8 for ad-free viewing.

The service pushed through with its launch in April despite the coronavirus outbreak, with Whitman saying in an interview with Digital Trends that it was fast-tracking the launch

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Quibi May Already Be Up For Sale – Report

Quibi, the short-form mobile video streamer that launched back in April, is reportedly already exploring a sale. According to a Wall Street Journal report, “the company founded by Hollywood mogul Jeffrey Katzenberg [has been] struggling to sign up subscribers in a competitive online-video marketplace.”

“Quibi has successfully launched a new business and pioneered a new form of storytelling and state-of-the-art platform,” a Quibi spokesman said, adding that the company does not comment on rumor or speculation. “Jeffrey [is] committed to continuing to build the business in the way that gives the greatest experience for customers, greatest value for shareholders and greatest opportunity for employees.”

However, founder Katzenberg and CEO Meg Whitman have cited COVID-19 as making Quibi’s plan for high-production mobile video incompatible with current production realities. Earlier this year at Denver’s SeriesFest–a Denver festival “dedicated to championing artists at the forefront of episodic storytelling”–Katzenberg reportedly described the pandemic as

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Quibi may be for sale. But what is it worth, and who would buy it? | Money

“The SPACs are no longer this niche, unusual product,” Danics said. “A lot of people understand it and understand the role that they play in bringing private companies public.”

Katzenberg, who declined to comment on this story, has blamed much of the company’s struggles on the COVID-19 pandemic. A big part of Quibi’s pitch was that its users were supposed to watch videos during “in-between” moments, like waiting for the bus or standing in line for coffee. Those activities were largely curbed by coronavirus closures.

While the health crisis undoubtedly contributed to Quibi’s troubles, the streaming service made other miscalculations, analysts said.

By the time Quibi launched last April, consumers already had a vast amount of streaming options, including platforms with much larger libraries like Netflix and Disney+. That made it critical for Quibi to launch with a lineup of breakout content.

“They’re a late entrant in a very, very

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