Quibi Valuation, Funding & Investors

Quibi is not operational anymore. Its last reported valuation was $1.8B as of March 2020.

See full Quibi profile

Last Quibi valuation

$1.8B

Undisclosed stage · Mar 2020

Last Quibi funding round

$750M

Undisclosed stage · Mar 2020

Cumulative funding Quibi raised

$1.8B

across 3 funding rounds

Key investors in Quibi

Quibi Overview

About Quibi

Quibi is a defunct American short-form video streaming service that commissioned premium programming for viewing on smartphones. It was founded in Los Angeles in August 2018 as NewTV by Jeffrey Katzenberg, the former Disney studio chairman and DreamWorks co-founder, and was run by chief executive Meg Whitman, formerly chief executive of eBay and Hewlett Packard Enterprise; the company took the name Quibi, short for quick bites, in October 2018. The service carried scripted series, alternative and reality programming and documentaries made with Hollywood studios, producers and talent, delivered in episodes of ten minutes or less and aimed at viewers aged 18 to 34. It earned money from monthly subscriptions, sold in an advertising-supported tier and an ad-free tier, and from advertisers who bought its inventory. Quibi licensed rather than owned its programming, and creators could distribute their shows in traditional forms after a few years. The service launched in April 2020, the company announced its wind-down in October 2020 and the app closed in December 2020, after which its content distribution rights were sold to Roku.


Founded

2018

HQ

United StatesLos Angeles

Website

quibi.com

Status

Closed

Customer focus

B2C

Revenue model

Subscription

Valuation

$1.8B (Mar 2020)

Quibi Valuation

Quibi is insolvent and not operational anymore. Read the announcement ↗

Quibi was last valued at $1.8B, based on its undisclosed-stage round in March 2020. Read the announcement ↗

The $750M round included WndrCo, Alibaba Group, Pegasus Tech Ventures and Asahi Broadcasting Group.

Quibi valuation by funding round

Quibi valuation by funding round
DateStageValuation
Oct 2020Write-down · Insolvency$0
Mar 2020Undisclosed stage$1.8B

Quibi Funding History

Before winding down, Quibi has raised a total of $1.8B across 3 funding rounds.

Quibi's first fundraising round was a $1B undisclosed-stage round in August 2018. The most recent completed round was a $750M undisclosed-stage round in March 2020.

Quibi funding rounds

Quibi funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2020Undisclosed stageWndrCo; Alibaba Group; Pegasus Tech Ventures; Asahi Broadcasting Group$750M$1.8BQuibi closed an upsized $750 million second funding round in March 2020, one month before the commercial launch of its mobile streaming service on April 6, 2020. The company had said earlier in the year that it had raised $500 million in follow-on funding before the round was enlarged. Quibi did not name the investors, describing them as new and existing investors including studios, major technology companies, strategic partners and financial investors; reports identified Alibaba Group and WndrCo, the holding company of founder Jeffrey Katzenberg, among the participants, and Pegasus Tech Ventures said it invested $35 million in the round together with its corporate partner Asahi Broadcasting Group. The round brought Quibi's total funding to $1.75 billion, and one report put the company's valuation after the round at $1.75 billion. Chief financial officer Ambereen Toubassy said the round gave the company a strong cash runway and the financial flexibility to build content and technology. Quibi was based in Los Angeles, was run by chief executive Meg Whitman and commissioned premium short-form series, films and news programming in episodes of ten minutes or less for smartphones, sold by subscription at $4.99 a month with advertising or $7.99 without.
Jul 2019Strategic investmentBBC Studios--BBC Studios, the commercial arm of the British public broadcaster BBC, acquired a stake in Quibi in July 2019, ahead of the launch of the mobile video service. The size of the stake and the price were not disclosed and were understood to be small. BBC Studios said it was pleased to have concluded an investment in Quibi and that the two companies saw opportunities to work together on future content. Quibi had raised $1 billion in its first funding round in 2018 from Hollywood studios including Disney, 21st Century Fox, NBCUniversal, Sony Pictures Entertainment, WarnerMedia and Viacom, together with Alibaba Group and financial investors in a round led by Madrone Capital Partners. The company was founded in Los Angeles in 2018 by Jeffrey Katzenberg, the former Disney studio chairman and DreamWorks co-founder, and was run by chief executive Meg Whitman. Quibi commissioned premium short-form series, documentaries and news programming from studios and producers, delivered in episodes of ten minutes or less for viewing on smartphones and paid for by subscriptions and advertising. It launched its service in April 2020.
Aug 2018Undisclosed stageMadrone Capital Partners (lead); Breyer Capital; Entertainment One; Greenspring Associates; Disney; Lionsgate Studios; WarnerMedia; 21st Century Fox; Viacom; Goldman Sachs; Liberty Global; MGM Studios; JPMorgan Chase; Alibaba Group; Sony Pictures Entertainment; ITV plc; NBCUniversal$1B-NewTV, the short-form mobile video start-up that was renamed Quibi in October 2018, closed its first funding round of $1 billion in August 2018. Madrone Capital Partners led the round. The Hollywood investors were 21st Century Fox, Disney, NBCUniversal, Sony Pictures Entertainment, WarnerMedia, Viacom, Entertainment One, ITV, Lionsgate and MGM, and the round also drew Alibaba Group, Goldman Sachs, JPMorgan Chase and Liberty Global, with Breyer Capital and Greenspring Associates among the other backers. The valuation of the company was not disclosed. The round was raised through WndrCo, the holding company of founder Jeffrey Katzenberg, who said at the time that the business would need about $2 billion to carry out its plan. Quibi was founded in Los Angeles in August 2018 by Katzenberg, the former Disney studio chairman and DreamWorks co-founder, with former eBay and Hewlett Packard Enterprise chief executive Meg Whitman as chief executive. It planned a subscription service of premium series, films and news programming made by studios and talent in episodes of ten minutes or less for viewing on smartphones, and it launched the service in April 2020.

Who has invested in Quibi?

21 investors have backed Quibi across its funding rounds, including Alibaba Group, Goldman Sachs, JPMorgan Chase, Breyer Capital, WndrCo and Pegasus Tech Ventures.

Lead investors include Madrone Capital Partners.


Quibi Investors

Investors in Quibi by funding rounds participated
InvestorHQRoundsRoleFirst check
Alibaba GroupChinaHangzhou2ParticipantAug 2018
Breyer CapitalUnited StatesAustin, TX1ParticipantAug 2018
Entertainment OneCanadaToronto1ParticipantAug 2018
Greenspring AssociatesUnited StatesBaltimore, MD1ParticipantAug 2018
DisneyUnited StatesLos Angeles, CA1ParticipantAug 2018
Lionsgate StudiosCanadaLos Angeles, CA1ParticipantAug 2018
WndrCoUnited StatesLos Angeles, CA1ParticipantMar 2020
BBC StudiosUnited KingdomLondon1ParticipantJul 2019
WarnerMediaUnited StatesNew York City, NY1ParticipantAug 2018
21st Century FoxUnited StatesNew York City, NY1ParticipantAug 2018
ViacomUnited StatesNew York City, NY1ParticipantAug 2018
Goldman SachsUnited StatesNew York City, NY1ParticipantAug 2018
Liberty GlobalUnited KingdomLondon1ParticipantAug 2018

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

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Quibi Competitors

Quibi competitors included listed companies like QYOU Media, GD Culture Group, Phoenix New Media and T4F Entretenimento, and private ones like nodalab and Collab Universe.

Public and private companies comparable to Quibi
CompanyHQStatusRevenueEBITDAValuation
QYOU MediaCanadaCanadaPublicly listed$23M$223K$15M
nodalabMexicoMexico CityPrivate--$900K
Collab UniverseCanadaCalgaryPrivate--$300K
GD Culture GroupUnited StatesUnited StatesPublicly listed-($185M)$5M
Phoenix New MediaChinaChinaPublicly listed$115M$2M$17M
T4F EntretenimentoBrazilBrazilPublicly listed$35M($9M)$8M

Quibi Public Comps

Quibi is defunct now, but its public comps included Harrison Global Holdings, Mavshack, Flash Sports & Media, Saddle Ranch Media, K Wave Media, Nexar Group, Mondo TV and Platige Image.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Harrison Global Holdings$1M($1M)0.0x-(0.0x)-
Mavshack$337K$213K0.9x-1.4x-
Flash Sports & Media$17M($19M)3.9x-(3.5x)-
Saddle Ranch Media$207K($428K)6.9x-(3.3x)-
K Wave Media$58M($151M)0.5x-(0.2x)-
Nexar Group$7K($466K)218.0x-(3.2x)-

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Common questions about Quibi

What happened to Quibi?Quibi is not operational anymore and insolvent as of 21 October 2020.
When was Quibi founded?Quibi was founded in 2018.
Where was Quibi headquartered?Quibi was headquartered in Los Angeles, United States.
Was Quibi publicly listed?No, Quibi was a private, VC-backed company.
What was Quibi's valuation?Quibi was last valued at $1.8B in its undisclosed-stage round in March 2020.
How much did Quibi raise?Quibi raised $1.8B across 3 funding rounds.
What was Quibi's last funding round?Quibi's last funding round was a $750M undisclosed-stage round in March 2020.
Who were Quibi's investors?Quibi's investors included Alibaba Group, Breyer Capital, Entertainment One, Greenspring Associates, Disney, Lionsgate Studios, WndrCo, BBC Studios, WarnerMedia, 21st Century Fox and 11 others.
Who were Quibi's competitors?Quibi's competitors included QYOU Media, nodalab, Collab Universe, GD Culture Group, Phoenix New Media and T4F Entretenimento.

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