Report: Quibi is expected to shut down less than seven months after launching

TheWrap

Quibi founder Jeffrey Katzenberg has called a meeting with senior management for tonight, according to The Wrap. "The expectation is that the company will shut down and return what remains of its investors’ money," reports The Wrap's Tim Baysinger. Quibi declined comment. Quibi launched on April after raising nearly $2 billion. The news comes as Quibi has joined Apple TV, Amazon Fire TV and Google TV.