Quibi Closes Upsized $750 Million Second Round of Funding for Mobile-Video Launch
Reading now: 879
variety.comOne month ahead of commercial launch, Quibi said it closed $750 million in second-round funding, which the premium mobile-subscription player believes will take it to the point of profitability.
Led by founder Jeffrey Katzenberg and CEO Meg Whitman, the company has now banked $1.75 billion to date. Earlier this year, Quibi said it had raised $500 million in follow-on funding but since then the round was upsized to $750 million.
The company didn’t disclose names of investors in the latest round, but said it included investments by new and existing investors including “studios, major technology companies, strategic partners and financial investors.” “We concluded a very successful second raise which will provide Quibi with a strong cash
Read more on variety.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
