Quibi is looking to be acquired or conduct an IPO

Streaming startup Quibi is looking to be acquired or conduct an initial public offering through a special purpose acquisition company (SPAC), among other potential moves, according to the Wall Street Journal.

The short-form streaming service launched in April and has yet to release subscriber numbers.

Founded by Jeffrey Katzenberg and led by CEO Meg Whitman, Quibi is backed by $1.75 billion in investment from companies including ITV, Disney, Comcast NBCUniversal, AT&T/WarnerMedia and ViacomCBS.

But the company, which has blamed its early struggles on a pandemic market it wasn’t designed to serve, is reportedly looking at options.