Dispo Co-Founder Is Out After a Vlog Team Member is Accused of Sexual Assault
Francesca Billington is a freelance reporter. Prior to that, she was a general assignment reporter for dot.LA and has also reported for KCRW, the Santa Monica Daily Press and local publications in New Jersey. She graduated from Princeton in 2019 with a degree in anthropology.
Investors behind David Dobrik's app Dispo are beginning to cut ties.
The venture-backed startup lost its top investor Sunday night following an investigation into a sexual assault allegation against a former member of his vlog crew.
And two early investors have since released statements and confirmed they would donate any profits from from investments to organizations working with survivors of sexual assault.
Spark Capital, who led the startup's $20 million Series A round in February, announced Sunday night that it has chosen to "sever all ties."
"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," the venture capital firm posted on Twitter.
The firm did not directly address its investment and could not be immediately reached for comment.
Meanwhile, Dobrik, a co-founder of the Los Angeles company, said he has stepped down from Dispo, according to a report from The Information.
The departures come on the heels of a report from Business Insider last week that outlined the story of one woman who said she was sexually assaulted by a former member of the content creator group Vlog Squad. The woman said Dobrik had been present that night before the assault, filming.
Days after the story was published, a handful of Dobrik's sponsors, including HelloFresh and the Dollar Shave Club, ended their partnerships with the social media influencer. DoorDash, Honey, General Mills and Angel City Football Club also dropped sponsorships.
Early-stage investors are beginning to speak up about the allegations and reports.
Seven Seven Six, an early-stage venture capital firm created by Reddit's Alexis Ohanian, tweeted Monday that the allegations "are extremely troubling and are directly at odds" with the firm's values.
"We have made the decision to donate any profits from our investment in Dispo to an organization working with survivors of sexual assault," the firm posted. "We have believed in Dispo's mission since the beginning and will continue to support the hardworking team bringing it to life."
Ohanian could not be reached directly for comment.
Minutes later, Unshackled Ventures, an early-stage fund for immigrant founders, posted a brief statement calling the allegations "disturbing." The firm also participated in Dispo's October seed round and told TechCrunch it would also donate any profits to groups dedicated to survivors of sexual assault.
"As a female majority team, we do not take this lightly," reads the tweet. "We are in support of the companies decision to part ways with David and will continue to monitor the situation closely."
Editor's note: This story has been updated with new information about sponsorships and investors throughout.
Breanna de Vera also contributed to this report.
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Francesca Billington is a freelance reporter. Prior to that, she was a general assignment reporter for dot.LA and has also reported for KCRW, the Santa Monica Daily Press and local publications in New Jersey. She graduated from Princeton in 2019 with a degree in anthropology.
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