The co-founder of online video-sharing site YouTube, David Dobrik, has raised a $20 million investment from Spark Capital, the venture fund of Google. But a few days after the announcement, the view count on YouTube has dropped significantly. In an interview with CNBC, Dobrik said the decline is due to a “technical issue” with the company’s algorithm.
Dispo’s recent Series A round is now on pause
The Dispo app is a fun social network that capitalizes on nostalgia for pre-digital photography. It allows users to take a picture, edit it to a more pleasing format and post it on its social networking platform. Users can also upload photos to the app’s photo album. Apparently, it hasn’t been around long enough to be considered a full-fledged photo sharing application, but it’s gaining traction in a variety of markets.
Although Dispo hasn’t released official figures, it has garnered over 5 million downloads since its launch in February. And while it may be a bit of a long shot to become the next Instagram, the team at Dispo certainly deserves credit for making a splash. As of January 2020, it’s the highest rated photo and video app on the iOS App Store.
The Dispo app has received over $20 million in funding and is a veritable dynamo. One of the company’s investors, Spark Capital, slashed ties with the company after a review of its activities.
Dispo co-founder steps down from board
David Dobrik is stepping down from his position as Dispo’s co-founder and CEO. It comes as controversy over sexual assault claims continues to swirl around the YouTube star.
The allegations stem from a YouTube video Dobrik filmed in 2018. A woman claimed to have been raped while filming the video with Dobrik and other members of the Vlog Squad. In the video, she said she was too drunk to consent to sex with Durte Dom.
The woman, whose name was not disclosed, was 20 at the time of the incident, and was with Dobrik and other members of the “Vlog Squad” during the sex encounter. At the time, the two were filming the video to promote a “consensual threesome.”
In the aftermath of the report, various brands and venture capital firms have announced they would no longer work with Dobrik. HelloFresh, Dollar Shave Club, DoorDash, and SeatGeek are among those who have cut ties.
Dispo’s view count drops by more than 66 million on Friday
It was only a matter of time before David Dobrik walked off the big green teapot, or at least Dispo HQ to be exact. The aforementioned teapot has seen better days, and while the company has been around since 2009, Dobrik has been making waves in the social media space. In addition to announcing his departure, Dispo has slashed its ad budget by a third, bringing a much needed end to the doldrums. With his departure, the company’s app store has dropped to two stars. Those hoping to keep up with the Joneses may want to look elsewhere. Among other things, the news has prompted some high profile departures from Dobrik’s former chums, including a high-profile ex-boss. After all, the likes was a sex off. This has certainly been a dampener on what used to be the sexiest company in the business. For better or worse, Dobrik will no doubt be missed.
Dispo’s investors will donate any returns from their investment to organizations working with survivors of sexual assault
The co-founder of the social media app Dispo, David Dobrik, has been put under new scrutiny after accusations of sexual assault against another member of his friends group. While the allegations are troubling, the startup’s investors have come together to donate any profits from their investment to organizations that help survivors of sexual violence.
The story began last week, when Business Insider released a story detailing a woman’s claim that she was sexually assaulted by a member of the Vlog Squad. At the time, the accuser was just 20 years old.
Dispo co-founder David Dobrik, who filmed the encounter for YouTube, apologized for the incident in a video. He also deleted the video. After the allegations surfaced, brands and sponsors began to drop their ties with Dobrik.
After the rape claims were made, several major sponsors and brands such as Hello Fresh, EA Sports, Dollar Shave Club, and HBO announced they were ending their ties with Dobrik. Even Amazon and DoorDash announced they were no longer working with him.