Katzenberg’s Quibi Nabs Hollywood Space
Jeffrey Katzenberg’s digital-video start-up Quibi has leased 49,000 square feet of office space on Seward Street in the Hollywood Media District. Quibi, which stands for “quick bites of video,” will occupy two floors and plans to move in by February. The company, which launches next year, focuses on videos of 10 minutes or less. It’s headed by former ebay CEO Meg Whitman and has raised $1 billion in funding.
Also located at the Hollywood 959 building are Bold Films, postproduction sound firm Formosa Group and Southbay Motion Picture Technologies, which specializes in 3D conversion and visual effects. The central Hollywood area has added 1.6 million square feet of office space since 2014, with another 1 million square feet due to hit the market by 2020.