David Dobrik and his team recently raised $20 million to help fund Dispo, a startup that helps people to make decisions by providing data. While they are still early in their journey, they have shown great promise, and with the right amount of funding, they could take their business to new heights.
Dispo raises $20 million
YouTube star and social media star David Dobrik is the co-founder of the new camera app Dispo. This retro app mimics the experience of using a disposable camera. Users take photos and wait up to 24 hours before they can be seen publicly.
The app also lets users post photos to a private feed. However, Dispo has recently lost favor among investors. After a Business Insider report uncovered sexual assault allegations against a member of Dobrik’s “Vlog Squad,” the company’s image suffered a major setback.
While Spark Capital led a $20 million Series A round in Dispo last month, the firm has since distanced itself from the startup. In addition, Dispo has informed its core investors that Dobrik has left the company, according to a source.
Dobrik is known for his comedic videos on Vine. He has 18.7 million subscribers and is one of the most popular creators on the site.
Earlier this month, Dispo launched an invite-only beta test. Approximately 10,000 people took part. During that period, Dispo received a number of negative comments on its product page.
The business also has a few prominent investors. Seven Seven Six, which was founded by Alexis Ohanian, was one of the first to invest in Dispo, and the firm remains listed as an investor. Several other investors have also expressed interest in the startup, including Andreessen Horowitz, Benchmark, and Sequoia Capital.
Dispo is a photo sharing app co-founded by YouTube star David Dobrik. The app mimics the experience of using an analogue disposable camera. Photos take about 24 hours to develop and appear in users’ feeds. However, Dispo does not allow users to edit their photos.
Despite this, Dispo has attracted a number of venture capital firms. The company recently launched a beta version of the app for a select group of fans. It is expected that the new iteration of the app will include a feature that lets users post their photos to social media networks like Facebook and Instagram.
Dispo’s recent funding round has been met with controversy. Not only has the company raised $20 million at a $200 million valuation, but a recent Business Insider investigation uncovered some troubling sexual assault claims against the startup’s founder and “Vlog Squad” members.
The investigation prompted a response from Dobrik. He posted a video of the incident and captioned it, “SHE SHOULD NOT HAVE PLAYED WITH FIRE.” But the app’s success might be tarnished now. In fact, other investors have already cut ties with the YouTube creator, including Dollar Shave Club, HelloFresh, and EA Sports.
According to sources, the aforementioned video has been deleted. However, a new VP of community has been appointed. TJ Taylor will oversee the social component of Dispo.
Dispo, a picture-taking app, is undergoing a major shakeup. Cofounder David Dobrik has stepped down from the company’s board and is no longer working on the app. And he’s not the only one leaving the company. Some investors are also pulling back from the startup.
Dispo has already raised a $20 million Series A round, led by Spark Capital. But now it’s stepping away from Dobrik and losing brand partners. This has led some tech founders to step away from the app, arguing that they are simply supporting a venture backed by Dobrik.
The founders of Dispo have hired a new CEO, Jack Reed, who has an investment background. He’s also bringing in a new team of developers. They’re aiming to build an authentic, casual platform that’s more about experiencing photography with friends than building a million followers.
Dispo users have been left to grapple with what the future holds. While a new Dispo app isn’t likely to change much, there are still a few issues to address.
Dispo doesn’t offer a direct messaging feature or captions. It’s more about creating photo albums called “Rolls” and sharing them with friends. However, users are able to leave comments on other users’ photos.
One of the most popular features is “Shared Rolls,” which creates new photos each morning. Users are also able to follow other users’ rolls.