QUIBI would like a word with the world today. Late last night, it emerged that the short-changed video app (QUIBI, by chance, happens to mean quick bites) would be shutting down indefinitely. That shut down comes, per reports, amid financial and subscriber struggles for an app that never quite made sense from the start.
In the beginning, I tested out Quibi before it actually hit the public. So to see an app, within 6 months faulted to the point of its own total demise — means that from the start Quibi was a false promise that could’ve been avoided.
Extraordinarily, the app managed to raise more than $1B in revenue leading up to and even after its official launch. Interestingly, despite having had a monster debut in April (more than 700k mobile downloads on launch day) — the idea of essentially short videos trying to tell the story of full length movies and what not just didn’t bite.
The premise of Quibi had originally seemed like a grand idea. Truthfully, had it not been for the Coronavirus pandemic — Quibi probably would’ve been able to hang on.
But — who exactly is watching things on their mobile phone while at home in quarantine?
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