Dispo, which launched in 2019, is a photo-based social platform similar to Instagram that mimics the experience of using a disposable camera. Photos taken via the Dispo app take 24 hours to “develop” and appear on user feeds.
In October, Dispo raised $ 4 million in the firm of Alexis Ohanian, co-founder of Reddit, in the seventh Six-led funding round. In February, the company earned an additional $ 20 million in funding under the leadership of Spark Capital; $ 200 million in funding value Dispo.
But a Check by insider Published last week, Mr. Dobrick was accused of playing a role in a sexual harassment scandal involving former members of his “Slog Squad”. Later he told information He will leave Dispo and step down from his board. And some investors of Dispo are also backing down.
On Sunday, Spark Capital said it would “make all relations with the disco serious”. “We have stepped down from our position on the board, and we are making arrangements to ensure that we do not benefit from our recent investment in Dispo,” the venture firm Posted on twitter.
On Monday, Mr. Ohanian and Seven Seven Six also released a statement calling the allegations against Mr. Dobrick “extremely disturbing” and “directly at odds with the seven-by-six core values.” Mr Ohnian posted on Instagram that he and Seven Seven Six supported Mr Dobrick’s choice to step down from the company.
Seven seven six Twitter It will donate any profits it makes from its investment to “work with an organization that survives sexual harassment.”
Another early Dispo investor, unhappy with this, said on Monday that he would focus the profits from his investment on survivors of sexual harassment, including Friendship, Which focuses on helping South Asian survivors in domestic violence.
“We are a female majority team that does not take it lightly. We are in full support of his decision to participate with David, ”Untouched Ventures said in a statement.
Dispo and Mr. Dobrick did not respond to requests for comment.
In the past year, many investors have Infatuated with the influential world. “It seems to me that there has been some change in the past year among investors, and it seems that everyone is talking about the producer economy and investing in maker equipment,” Li Jin, founder of Ethereum, Firm investing in producer company told in New York Times December.
Mr. Dobrick is one of YouTube’s most popular creators, with more than 18.7 million subscribers on its primary channel. After gaining fame on the short-video app, Veen, he and formed a friend group called “Vlog Squad”, which included comedy vedic content often stunts for sites like YouTube, TikTok and Instagram.