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- Quibi was **founded in August 2018 as NewTV by Jeffrey Katzenberg and was led by Meg Whitman, its CEO**. In October 2018, NewTV was renamed Quibi. It was founded in Los Angeles in August 2018 as NewTV by Jeffrey Katzenberg and was led by Meg Whitman, its CEO. The service raised $1.75 billion from investors. - Quibi just announced it was shutting down only six months after launching. The service's goal was to **draw subscribers in to watch short-length mobile content on their phones**. Quibi raised $1.75 billion but failed to attract subscribers.