The new mobile-only streaming service launched on Monday in the United States and Canada and is yet another entrant into the streaming wars. However, the service differs a bit from the likes of Netflix and Disney+ thanks to an odd but unique pitch: It offers high quality videos and series that are 10 minutes or less in length.

Quibi will face significant competition and it's launching in the middle of a pandemic, which may or may not help its growth. But it has a lot of buzz - and money - backing it up, not to mention two of the most famed executives in Hollywood and Silicon Valley running the company.

Here's everything you need to know about Quibi: Quibi, which is short for "quick bites," offers short-form content that's no more than a few minutes long. The content ranges from scripted, fictional series to news and sports highlights.

However, unlike short-form videos on YouTube or Instagram, Quibi's content comes with high production budgets. The videos have also been filmed and edited to be viewed both horizontally and vertically.

The service's two veteran executives include Meg Whitman, the former CEO of eBay, and Jeffrey Katzenberg, a Disney alumnus and co-founder of DreamWorks. The two have raised nearly $2 billion from investors, according to the Wall Street Journal.

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@quibi is finally here!!!! Head to the link in bio to see which shows we think are totally watchable (and a few that you might want to skip) 🎬

A post shared by TV Guide (@tvguide) on Apr 6, 2020 at 12:20pm PDT

"What we're trying to do is bring together the best of Hollywood and the best of Silicon Valley to make viewing short-form content on your mobile extraordinary," Whitman told CNN Business last year. "We've got Hollywood quality content with some really very innovative technology that makes viewing video on your mobile something quite different than what it is today."