December 15th, 2015

Quibi will shut down 'on or about December 1,' but you might still be able to watch its videos elsewhere after that

Jeffrey Katzenberg QuMichael Kovac/Getty Images for Acura

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Quibi will stop streaming "on or about December 1," the service said in a short blog post Thursday night, after announcing its own demise on Wednesday.

But it suggested its videos may still be available elsewhere after it shuts down.

"At this time we do not know if the Quibi content will be available anywhere after our last day of service," it said.

Quibi, which produced short-form videos for mobile viewing, encouraged users to follow #Quibi on Twitter for updates.

The company thanked its customers for their support and for giving Quibi "an opportunity to entertain [them]."

Read more: A Quibi investor says the startup should have tried to 'fight more' but that he'll be happy if he can get 50% of his investment back

On Wednesday, the app announced it would be shutting down after only six months, citing struggles during the pandemic.

Despite raising $1.75 billion from investors like Walmart, PepsiCo, and Anheuser-Busch ahead of its launch in April, the service failed to attract viewers, and none of its shows have become major hits. 

Jeffrey Katzenberg, Quibi's founder, had previously said content production cost the startup up to $100,000 per minute. The company planned to spend $1.1 billion on content production in its first year.

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