Roku Buys Content From Failed Quibi Video App
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The streaming device brand Roku announced on Friday that it has bought the worldwide distribution rights to the content of the failed video application Quibi , three months after this platform will close only about 6 months after its launch.
Quibi was born when Jeffrey Katzenberg and Meg Whitman , Quibi CEO and former Hewlett Packard CEO, raised more than $ 1.75 billion to create a video streaming service platform that would have original content and which you could subscribe to for $ 4.99 a month. (about 100 Mexican pesos at the current exchange rate). However, in October 2020 it closed its operations due to a lack of users.
The Quibi content library currently has more than 75 shows and movies with the likes of Liam Hemsworth, Sophie Turner and Kristen Bell.