Venture capital firm Spark Capital says it's pulling funding from David Dobrik's new photo app DispoMarch 22, 2021
- Venture capital firm Spark Capital announced it was pulling out of funding Dispo, a photo-sharing app co-created by YouTuber David Dobrik.
- Last week Insider released an investigation into Dobrik’s “Vlog Squad.”
- One of its members has been accused of rape by a woman who appeared in a video about group sex.
- See more stories on Insider’s business page.
Dispo, the photo-sharing app co-created by YouTuber David Dobrik, is in trouble after venture capital company Spark Capital decided to sever ties with the company.
On Sunday evening, the company tweeted: “In light of recent news about the Vlog Squad and David Dobrik, the cofounder of Dispo, we have made the decision to sever all ties with the company. We have stepped down from our position on the board and we are in the process of making arrangements to ensure we do not profit from our recent investment in Dispo.”
Dispo had raised around $20 million during a Series A funding round led by Spark Capital. Early on, it had a valuation of around $200 million.
Last week, Insider’s Kat Tenbarge released an explosive investigation into allegations from a woman who said Dom Duerte, a member of Dobrik’s “Vlog Squad,” sexually assaulted her while filming a video about group sex.
Since then, several key sponsors of Dobrik’s YouTube channel have cut ties with him, including DoorDash, EA Sports, and Dollar Shave Club.
Dobrik, along with Daniel Liss, and Natalie Mariduena, created the photo-sharing app in a bid to mimic the experience of non-digital photos. Users must wait several hours until their digital images “develop” and can be shared.
In February, a New York Times profile of the app referred to it as “the next Instagram.”
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