Quibi is reportedly exploring a sale after solving a problem that was already solved

Adorable name... not-so-adorable turnout. Quibi is different from its other streaming peers, like Hulu, Vudu, Roku, and Fubo (although...we sense a trend). The mobile-first short video startup — short for "quick bites" — raised a gargantuan $1.75B before launching in April. It's the brainchild of Dreamworks founder Jeff Katzenberg, so expectations were high. Fast forward...

• Quibi has failed to live up to the hype. It's reportedly falling majorly short of its paid subscriber targets (even with the 90-day free trial).
• It's also dealing with a lawsuit regarding its key "Turnstyle" feature, which lets you seamlessly switch between horizontal and vertical phone viewing.
• Now, Quibi is reportedly exploring cash-raising options, including selling itself or merging with a SPAC (aka: a "blank check" company) to go public.

That awkward in-between spot... With its 8-minute episodes, Quibi sits between short user-generated videos (on Snap, Insta, TikTok) and long-form studio content (on Netflix, Disney+, etc.). It costs $5/month with ads and $8/month without — less than Netflix, but more than Disney. Despite star-studded shows and high-quality production, it seems many haven't found it compelling enough to pay for.