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Quibi’s Slow Start Puts Pressure on Katzenberg to Boost Cash
Following a rough start during the pandemic, Hollywood’s most lavish startup could need a major influx of funding through 2030.
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Quibi, one of Hollywood’s most ballyhooed startups, is having a rocky first year.
Founder Jeffrey Katzenberg envisioned an app that would entertain people during the odd, in-between times in their lives — while commuting, say, or waiting in line at the bank. But when the April launch date arrived, Americans were in lockdown due to the coronavirus, meaning such moments had all but disappeared.