Quibi founder Jeffrey Katzenberg is reportedly having a hard time finding a buyer for the struggling short-form video streaming service, after being rebuffed by Apple.
Short-form video streaming service Quibi is said to be exploring “strategic options,” including the possibility of a sale, after failing to hit initial subscriber targets. Thus far, however, it has come up short.
According to The Information, Katzenberg has recently pitched the possibility of acquiring Quibi several technology and entertainment companies. Some of the executives he approach include Eddy Cue, Apple’s senior vice president of internet software and services. Katzenberg was turned down.
Quibi was floated as a possible target of an Apple takeover earlier in 2020. Along with Apple, Katzenberg’s pitch was also rejected by WarnerMedia CEO Jason Kilar and Facebook app chief Fidji Simo, The Information reported.
Part of the reason why buyers keep turning the service down is that it doesn’t