is closing up shop, and now we have an idea of when the company will stop streaming its short, quick videos. In a customer support article posted Thursday, Quibi revealed that it expects to stop streaming "on or about December 1, 2020."
The company goes on the thank customers for "giving us an opportunity to entertain you," referring all questions about the shutdown to its email@example.com email address. The post also acknowledges that the streaming service doesn't know where Quibi content will land after the service shuts down, directing people to follow #Quibi on Twitter for updates.
The post comes a day after news broke that Quibi would be shutting down operations less than seven months after launch. The company had raised $1.75 billion from investors and had the backing of major actors, directors and Hollywood studios for its mainly mobile-focused videos. The clips were available in an app for $5 per month for Quibi's cheapest tier and $8 per month for an ad-free version.
The company hoped its unconventional approach -- star-packed programming released in 10-minute-or-less episodes -- would find a sweet spot in a streaming landscape crowded with Netflix, Disney Plus, Apple TV Plus, Peacock and HBO Max. The premise never took off, something that was acknowledged by founder Jeffrey Katzenberg and CEO Meg Whitman in a joint open letter published Wednesday.
"Quibi was a big idea and there was no one who wanted to make a success of it more than we did," they wrote. "Our failure was not for lack of trying; we've considered and exhausted every option available to us," they said, adding that they wanted people to know they "did not give up on this idea without a fight."