In a statement, quibefounded, JeffreyKatzenbergsaidQuote, theworldhaschangeddramaticallysincequibelaunchedandourstandalonebusinessmodelisnolongerviable.
Thetopexecutivespenned a lettertoemployeesandblamedthefailureeitherontheideaitself, notstrongenoughas a standaloneserviceorthetimingofftheirlaunch, whichcoincidedwiththepandemic.