Daily Crunch: Investors Back Away From Dispo

Daily Tech Roundup: March 22, 2021

Recent developments include a controversy surrounding Dispo, the release of a new Software Development Kit (SDK) by Zoom, and a continued delay for Android users awaiting Clubhouse access. This summarizes the key updates from today’s tech landscape.

Dispo Faces Backlash

Dispo is currently navigating a significant controversy involving allegations of sexual assault. Following reports in Business Insider detailing accusations against a member of David Dobrik’s vlog team, Spark Capital has announced its complete disassociation from the photo-sharing application.

Spark Capital stated they are relinquishing their board position and arranging to ensure no financial gain from their recent $20 million Series A investment in Dispo. Any potential profits will be redirected to organizations dedicated to supporting survivors of sexual assault. Unshackled Ventures and Seven Seven Six have pledged similar donations from their investments.

David Dobrik has also resigned from Dispo’s board and severed his ties with the company.

Tech Industry Updates

Zoom has unveiled a new SDK, designed to empower developers to integrate video functionalities into their applications. The company anticipates its use in areas like social media, gaming, and retail.

Caesar Sengupta, formerly head of Next Billion Users at Google, is departing the company. Sengupta, who also oversaw Google’s payments division, concludes a 15-year tenure with the firm.

The upcoming Apple/Epic Games trial is expected to feature testimony from prominent figures including Tim Cook and Tim Sweeney. A proposed witness list reveals a roster of key executives from both organizations.

Funding and Startup News

Side has secured $150 million in funding, achieving a valuation of $1 billion. The company focuses on enabling real estate agents to establish independent, branded businesses.

Indonesian financial app Pluang has raised $20 million in a pre-Series B funding round. Pluang provides unique savings and investment options, allowing users to invest with contributions as small as $0.50 USD.

Clubhouse has indicated that its Android application launch will require “a couple of months” of further development. Co-founder Paul Davison confirmed the company is diligently working towards Android compatibility.

Extra Crunch Insights

NFTs are being explored as a potential bridge between the video game and fashion industries. Brands are utilizing NFTs for marketing initiatives within virtual environments like Minecraft, as well as games from Atari and Microsoft.

ironSource is preparing to go public through a Special Purpose Acquisition Company (SPAC). Preliminary financial data suggests a promising outlook for the company.

Industry analysis from PipeCandy’s Ashwin Ramasamy suggests the emergence of “superapps” as a key trend in the e-commerce application ecosystem for 2021.

(Extra Crunch is a membership program offering resources for founders and startup teams. Sign up details can be found here.)

Additional News

A coalition of US privacy, consumer, competition, and civil rights groups are advocating for a ban on ‘surveillance advertising’. The organizations voiced their concerns in a recent open letter.

TC Early Stage 2021, focusing on Operations & Fundraising, is scheduled for April 1-2. The event offers valuable insights for early-stage companies.

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