Quibi was founded in 2018 by Jeffrey Katzenberg and is led by Meg Whitman, who serves as the company's CEO. The service is targeted toward a younger demographic with content delivered in short-form 10 minute episodes called "quick bites". Unlike other streaming video platforms like Netflix and Hulu, Quibi's content is made specifically to be only viewed on mobile devices and can be viewed in either horizontal or vertical video, with the user able to shift to one or the other within the same video.

The company plans to spend $1.1 billion on commissioning original content in its first year, totaling 7,000 short-form episodes.