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After only five months since it launched, could Quibi be up for sale? According the Wall Street Journal, the fledgling app is at least weighing its options. In an article published this morning, the Journal reports that Quibi is “exploring several strategic options including a possible sale, according to people familiar with the situation.”

The company, run by founder Jeffrey Katzenberg and CEO Meg Whitman, first debuted in April, but has been struggling to attract and retain subscribers since its launch in the spring. Quibi was pitched as an entertainment option to watch on the go, offering bite-sized shows to stream during small breaks in the day. But it first rolled out during the coronavirus crisis, when most consumers’ busy routines were put to an abrupt halt.

According to the WSJ sources, Quibi’s sale option is only one of a handful of future ideas for the company, which “is also considering raising more money or going public through a merger with a special purpose acquisition company, or SPAC,” which they describe as “essentially a blank-check company that helps fund deals.” They also add that Quibi is currently “working with advisers to review its options. The review process is a sign of strain.”

The company would not confirm or deny rumors that Quibi is considering a strategic review. “Quibi has successfully launched a new business and pioneered a new form of storytelling and state-of-the-art platform,” a company spokeswoman said in a statement, adding that Katzenberg and Whitman “are committed to continuing to build the business in the way that gives the greatest experience for customers, greatest value for shareholders and greatest opportunity for employees.”

Quibi has been behind on its subscriber targets and is on track to significantly miss its initial paid subscriber target, a source told the WSJ. The app is also currently facing a patent lawsuit and has some unimpressed advertisers on its hands. Back in May, Katzenberg blamed Quibi’s slow start on the coronavirus pandemic.

“I attribute everything that has gone wrong to coronavirus. Everything. But we own it,” he told the New York Times, later adding, “Is it the avalanche of people that we wanted and were going for out of launch? The answer is no. It’s not up to what we wanted. It’s not close to what we wanted.”