Whitman and Katzenberg Raise $400 Million for Quibi
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Quibi, the startup online-video service led by Meg Whitman and Jeffrey Katzenberg, has raised an additional $400 million and may seek more as it nears an April launch date.
The new financing will help pay for content and marketing, the company said on Wednesday. The owners might consider adding an additional $100 million to the current fundraising round. They had previously attracted $1 billion from backers that included Walt Disney Co., Walmart Inc. heirs and Goldman Sachs Group Inc.