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    It was aiming to bring high-end, Netflix-like programming to mobile phones as people were stuck in shelter at home mode. The Journal said Quibi is also considering raising additional cash or merging with a special purpose acquisition company, or SPAC, video exploring options popular financial vehicle of late.

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    Meg and Jeffrey are 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. It won two Emmy awards this past week for police drama FreeRayshawn and earned a mention by host Jimmy Kimmel in his opening monologue on the ABC telecast.

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    Through its first two months, it attracted 4. Critics, however, pointed out that TikTok and Snapchat managed to grow significantly through the middle months ofdespite the pandemic. Other headwinds have included a legal battle with Eko, which has claimed Quibi stole its technology to power its Turnstyle interface.

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    Several senior-level staffers have also left the company in the early going and the economic downturn required the company to implement austerity measures, though it denied reports of layoffs last spring. Advertising for Quibi has ticked up in recent months, returning the Quibi brand to the public eye in the most significant way since its splashy launch in early Subscribe to Deadline Breaking News Alerts and keep your inbox happy.

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