Quibi Founder Told Employees ‘Trolls’ Song Would Lift Their Spirits as He Announced Shutdown: Report
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Quibi’s founder Jeffrey Katzenberg reportedly urged staffers to listen to a song from the animated movie Trolls to lift their spirits as he announced the company was closing down. The streaming service—which had raised more than $1.75 billion from high-profile investors—announced its demise on Wednesday, and as part of the shutdown, all workers will be laid off and paid a severance, according to The Wall Street Journal. In a video call to employees on Wednesday, Katzenberg encouraged the laid off workers to listen to the song “Get Back Up Again,” performed by Anna Kendrick for the children’s movie Trolls, to help ease the blow. In an open letter with CEO Meg Whitman, Katzenberg said, “Our failure was not for lack of trying.” “We’ve considered and exhausted every option available to us,” the letter added.