It was founded in 2018 by Jeffrey Katzenberg, former president of Walt Disney Studios; it received investments from The Walt Disney Company, JP Morgan, Liberty Global and Viacom and in Las Vegas made its official presentation. It's called Quibi and its launching date is April 6 only for smartphones in the United States, at which time it will start competing against Netflix. To date it has reached an agreement with T-Mobile US to group Quibii and has raised US$150,000,000 in advertising.