(Reuters) – Quibi, the streaming service founded by former Disney executive Jeffrey Katzenberg, is exploring several strategic options including a possible sale, the Wall Street Journal reported on Monday, citing people familiar with the matter.
The company is also considering raising more money or going public through a merger with a special purpose acquisition company, the report said.
Katzenberg told Reuters earlier this year Quibi was downloaded more than 2.7 million times within just over two weeks of its launch in early April. (reut.rs/2EoKhsE)
The short-form, mobile-focused video service costs $5 a month with ads and $8 without them and had been originally promoted for on-the-go viewing.
Quibi, led by former Hewlett-Packard chief executive officer Meg Whitman, did not immediately respond to a Reuters request for comment.
Reporting by Ayanti Bera in Bengaluru; Editing by Aditya Soni