2 billion in funding from major US and European telecom and media companies, including Walt Disney, NBC Universal, 21st Century Fox Studios, Sony Pictures, Warner Bros., Viacom, Alibaba Group and the BBC. Leading streaming website 'QB' was shut down in just 6 months.
QB is a Netflix-style streaming website, but its highlights are short films, shows and documentaries.
All sorts of videos, movies, documentaries, shows, and web series aired on Cuban for just 10 minutes.
Although Cuban was initially introduced in the United States as New TV in 2018, it was renamed Cubi in early April this year.
The main purpose of 'QB' was to entertain people on smartphones, however, the users of the said website were also given the facility that they will be able to watch it on smart TV as well.
QB's monthly fee was kept at less than ڈالر 5 and the company owners hoped that this website would become the most popular website in the world, as the website was providing short videos.
Even the world's largest film production companies, media houses and telecom companies, which have invested in Cuban, had hoped that the website would reach as many people as possible, but this did not happen. Closed in 6 months.
Leading economic newspaper The Wall Street Journal reported that Cuban chief Jeffrey Ketzberg and chief executive officer (CEO) Meg Whitman confirmed the closure of Cuban on October 21.
During an online meeting with investors on October 21, the two top executives of the company informed them of the disappointing decision and said that they had surprisingly failed to attract QB subscribers.
The report said there were apparently two main reasons for the closure of QB, one being the lack of subscribers and the other the company facing several lawsuits.
Various technology companies have also filed lawsuits against QB for stealing or copying technology.
Announcing the closure of Cuban, the leaders acknowledged that the launch of the website was a "big mistake" in the face of the epidemic, as Corona had lost jobs and the Web, which provided free entertainment. Sites began to appear.
The leaders who announced the closure of QB expressed hope that the company would return in the future after raising more capital, but it was too early to say when the website would return.
