When the mobile, short-form content app Quibi launched on April 6, co-founder Jeffrey Katzenberg surely wasn’t expecting it to release in the midst of a worldwide virus outbreak. In a New Yor…
“I attribute everything that has gone wrong to coronavirus. Everything,” he said.. The New York Times article, published on Monday, says the app may now have 2.9 million customers, though Quibi would say the actual figure is 3.5 million, and 1.3 million users are active on the app. Ahead of its launch, the company predicted it would have 7 million downloads by the end of its first year and it would generate $250 million in revenue.
According to the New York Times, Quibi fell out of the top 50 most downloaded free iPhones apps a week after it launched. Now, it ranks as No. 125. “If we knew on March 1, which is when we had to make the call, what we know today, you would say that is not a good idea. The answer is, it’s regrettable, but we are making enough gold out of hay here that I don’t regret it,” he said.
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