David Dobrik's photo-sharing app Dispo recently bore the brunt of its founder's sexual assault scandal as venture capital firm Spark Capital decided to sever all ties with the company.
The move comes in the aftermath of an incriminating Insider article in which a member of David Dobrik's Vlog Squad, Dominykas "Durte Dom" Zeglaitis, was alleged to have sexually assaulted a woman.
Spark Capital issued the following statement on their Twitter handle and revealed their decision to step down from the Dispo board:
Apart from severing all ties with the company, the statement also clarified their stance on the app's profit incentive:
"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"
In light of this major development, Twitter was soon abuzz with a slew of reactions.
Twitter responds as Spark Capital joins an increasing list of brands that have cut ties with David Dobrik and The Vlog Squad
David Dobrik's Dispo app raised around $20 million during a Series A funding round, which was led by Spark Capital.
Ever since Insider's explosive article grabbed headlines across the globe, several prominent brands have begun to sever ties with David Dobrik.
The likes of DoorDash, EA Sports, Dollar Shave Club and Angel City FC have all forsaken any kind of association with Dobrik and The Vlog Squad.
The Insider investigation can be traced back to the rippling domino effect of former Vlog Squad member Seth Francois's sexual assault allegations against David Dobrik back in February. The allegations set in motion an irrevocable chain of events.
The recent allegations regarding the assault of minors via the influence of alcohol seem to be the final nail in the coffin for David Dobrik and The Vlog Squad.
In the wake of Spark Capital's monumental decision, several Twitter users extended their support in favor of their choice:
Spark Capital now joins an increasing list of investors and brands who have decided to sever ties with David Dobrik and The Vlog Squad amid the raging sexual assault scandal.
As pressure continues to mount online, it now remains to be seen if a precedent has been set and if more investors and brands will follow suit in the forthcoming weeks.