Participated · Equity · Oct 2018

Quibi is a subscription streaming service built around short-form, mobile-first original programming with episodes no longer than 10 minutes. It plans to offer 175 shows and roughly 8,500 episodes in its first year, with 50 shows available at launch and new episodes released daily. The app promotes mobile-specific features such as TurnStyle viewing and includes standard navigation tabs (For You, Search, Following, Downloads). Quibi does not have a back catalog and is relying on a slate of marquee talent and wholly original content to attract subscribers. Financially, the company has secured substantial backing and has sold out an initial $150 million of advertising inventory for its first year. To date the company has raised $1.75 billion, including a recently closed $400 million round. Quibi (short for 'quick bites') is a short-form video service designed specifically for mobile devices and built around original, mobile-first programming. The service plans to launch next year and will operate on a two-tier subscription model similar to Hulu. Quibi is commissioning projects from filmmakers including Guillermo del Toro, Antoine Fuqua, Sam Raimi, producer Jason Blum, and Van Toffler, with some projects described as a modern zombie story, a modern Dog Day Afternoon, and Wolves and Villagers compared to Fatal Attraction. Jeffrey Katzenberg has raised $1 billion for the company from a group of media and financial investors. Katzenberg hired Meg Whitman as Quibi's CEO in January, and the company has been hiring aggressively, including former Instagram product manager Blake Barnes and former Hulu VP of engineering Rob Post. The effort is positioned to compete with major players such as Instagram, Netflix and Snap.

Participated · Equity · Jul 2018

NewTV is developing mobile‑first video content that applies Hollywood production values to bite‑sized formats of 10 minutes or less. The company says it will pair that content approach with custom‑designed technology built specifically for mobile. NewTV is being incubated by Jeffrey Katzenberg’s WndrCo, and Meg Whitman was named CEO in January. Details about distribution strategy remain unclear — the company may own and distribute content, operate a standalone service, or pursue a hybrid approach. The market opportunity is uncertain in light of established short‑form platforms like YouTube and growing streaming services such as Amazon, Netflix and Hulu. Financially, NewTV has been pursuing large external funding, per press reports cited in the article.