Name: Spark Capital decides to 'sever all ties' with David Dobrik’s Dispo app weeks after leading deal
Brand: techcrunch.com
SKU: techcrunch-com-233
Availability: OnlineOnly

critic

Spark Capital decides to 'sever all ties' with David Dobrik’s Dispo app weeks after leading deal

preview

Spark Capital has decided to “sever all ties” with Dispo, a photo-sharing app co-created by famous YouTuber David Dobrik. The move, announced by the firm late Sunday, was triggered by a that exposed allegations from a woman who said that a member of Dobrik’s Vlog Squad sexually assaulted her.Update: promising to donate any profits from their respective investments to organizations focused on survivors of sexual assault.&nbsp;“In light of recent news about the Vlog Squad and David Dobrik, the co-founder of Dispo, we have made the decision to sever all ties with the company,” Spark Capital tweeted. “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.”1/ 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.— Spark Capital (@sparkcapital)Hours later,&nbsp;, as first reported by The Information. Dispo, in a statement to TechCrunch, said the following: “David has chosen to step down from the board and leave the company to not distract from the company’s growth. Dispo’s team, product, and most importantly — our community — stand for building a diverse, inclusive and empowering world.”Spark Capital’s decision to step back from the Dispo investment feels like a first of its kind, and if not, rare. It could trigger other investors with stakes in the company to do the same.Spark Capital, a $20 million dollar financing event that valued the company at $200 million, less than one month ago. The current statement by Spark does not indicate that the investment has been pulled from the company.Spark Capital did not immediately respond to request for comment in regard to what this process would look like, and if the shares will be sold back to the company or to another buyer. While the mechanics of the decision are unclear, the fact that the firm led a deal so recently in the company may have given it some leeway to walk away.Other sponsors of Dobrik, including HelloFresh and Dollar Shave Club, have ended their partnerships with the creator.Update: This story has been updated to reflect Dobrik’s departure from Dispo as well as other early investors in the app stepping away from their investment.

Spark Capital has decided to “sever all ties” with Dispo, a photo-sharing app co-created by famous YouTuber David Dobrik. The move, announced by the firm late Sunday, was triggered by a that exposed allegations from a woman who said that a member of Dobrik’s Vlog Squad sexually assaulted her.Update: promising to donate any profits from their respective investments to organizations focused on survivors of sexual assault.&nbsp;“In light of recent news about the Vlog Squad and David Dobrik, the co-founder of Dispo, we have made the decision to sever all ties with the company,” Spark Capital...

public

venture capital and startups reporter  @theinformation . all about numbers, nuance and new coffee shops.  send me tips and scoops on Signal at 925 271 0912!

Natasha Mascarenhas

Technology news and analysis with a focus on founders and startup teams. Got a tip? tips@techcrunch.com

techcrunch.com

Credible

Speculation

Anecdotal Evidence

Generalization

Stacking the Deck

Appeal to Authority

Straw Man

Slippery Slope

Emotional Appeal

Red Herring

False Dilemma

Illogical

Moral Equivalency

Ad Hominem

Correlation w/o Causation

Semantics

Begging the Question

Faulty Analogy

Non Sequitur

Bandwagon

Dogmatism

Failing Occam's Razor

Biased

Pure Opinion

Hit Piece

Racial Bias

National Bias

Religious Bias

Financial Incentive

Political Agenda

Gender Bias

Misused Image/Video

Study Misinterpreted

Mistake

Misused Term

Science Misrepresented

Factual Error

Satire

Surface Level

Lack of Reliable Sources

Sensational

Not Credible

Investigative

Balanced

Well Sourced

Great Context

sports

entertainment

U.S.

international

business

technology

science

culture

politics

media

health

Spark Capital decides to 'sever all ties' with David Dobrik’s Dispo app weeks after leading deal

No article scores yet.

CRITIC REVIEWS

PUBLIC REVIEWS