Quibi prepares to shut down 6 months after launch

New Delhi, Oct 23 (ANI):. Shortform mobile-focused streaming service, Quibi is shutting a few months after it was launched. According to The Verge, the company has confirmed that it'll be shutting down in a Medium post from Jeffrey Katzenberg and Meg Whitman. It's not clear what will happen to the company's lineup of expensive, star-studded original shows and short-form films after the shutdown. Quibi, which raised $1.75 billion, will continue to attempt to sell both the content and the underlying technology used in its apps in the coming months, however.