Market Overview

HQ Trivia Receives Anonymous Investment, Relaunches Games

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HQ Trivia Receives Anonymous Investment, Relaunches Games

Mobile quiz app HQ Trivia made a comeback on Sunday night as it received funding from an unknown investor.

What Happened

In mid-February, New-York based HQ Trivia ran out of funds and shut down its operations of interactive quiz shows, which had become a massive hit in 2017. 

In December 2018, after its founding CEO Colin Kroll died, it encountered many financial problems. Rus Yusupov, co-founder, tried to keep the company alive but could not manage it and laid off staff amid declining users and rising costs.

The app, which conducted games twice a day had almost 2 million players at its peak, reported The Telegraph. It would allow players to win money by answering quiz questions against the clock.

Earlier in 2020, HQ had progressed in buyout talks with media company Whistle for almost $20 million, but the deal did not go through.

Next Steps

HQ Trivia said that the company would donate $100,000 to World Central Kitchen, the charity that makes food for people in emergency zones, such as those affected by wildfires or the coronavirus.

 

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Posted-In: HQ Trivia The TelegraphNews Financing Management Media General Best of Benzinga

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