Launched in April 2020, the Quibi streaming platform, which had the ambition to revolutionize the sector, is already ending its activities, despite a spectacular fundraising that convinced all-Hollywood.

Quibi, it's over ... And to think that it was the future of our streaming platforms!

Quibi, a platform launched last April, was to revolutionize the consumption of online videos.

The project, started by Jeffrey Katzenberg, co-founder of DreamWorks studios, and Meg Whitman, one of eBay's first bosses, is already stopping. 

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2 billion and then goes

Quibi only lasted six months.

However, the two partners had convinced the whole of Hollywood to follow them in this project, where the contents - series or single - were imagined to be consumed in the first place on smartphones.

The platform had raised $ 2 billion to produce content of 10 minutes maximum, commissioned from big names like Steven Soderbergh, Antoine Fuqua, Steven Spielberg and Catherine Hardwicke.

According to the American press, there are still several hundred million dollars in Quibi's accounts.

But the two founders would have lost their hope that the service really takes off.

While they were counting on 7 million subscribers by the end of its first year, estimates had dropped to just 2 million, just two months after the launch of Quibi.

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Blame it on Covid-19?

It must be said that the service was unveiled to the public in April, just as the United States confined itself.

It's not easy to sell an offer designed to be consumed quickly, on the bus or metro, when everyone is at home and has nothing else to do than sit comfortably in front of the big screen of their TV.

Quibi founders Jeffrey Katzenberg and Meg Whitman tried to sell their platform, but nobody wanted.

It remains to be seen whether some of the native programs could be saved by other streaming platforms.