Day: November 5, 2020

3 Takeaways For Entrepreneurs From Quibi’s Fiasco

Even with a seasoned team and strong funding, Quibi shut down after six months. Here’s what you can learn from it.

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3 min read

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started with a vision to create the “next generation of storytelling” but announced a shutdown after just six months of being in . They had everything in place — a robust and credible team, close to $2 billion in funding, famous celebs onboard and an optimal time for launch. In an open letter released recently, Quibi’s team assures that it wasn’t the lack of trying that brought them where they are and that they have “exhausted every option.”

Related: What Can Marketers Learn From Quibi’s Failure?

Here are three takeaways for entrepreneurs from Quibi’s fiasco.

1. Keep track

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Diversification and vision drive success in a crisis

SHV Holdings was founded in 1896 when eight coal traders merged operations to expand their business across the Netherlands. The combination led to innovations in how coal was traded, including the invention of the first mechanical coal transporter. One hundred and twenty-four years later, the company, which is headquartered in Utrecht and remains family owned, is still in the energy business. But it has gone global through more than a century of investments and diversifications.

Today, SHV is made up of seven distinct businesses; in addition to oil and gas concerns and an investment arm, there is Makro, a food cash-and-carry company started in 1968 (Makro operations have been sold over the years, but SHV Holdings still retains ownership of operations in South America); ERIKS, an industrial services provider acquired in 2005; Mammoet, a heavy lifting and transport company, which was bought the following year; and Nutreco, which was acquired

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