LOS ANGELES, Oct. 7, 2020 /PRNewswire/ -- Dispo, the social network co-founded by digital star and TV personality David Dobrik, today announced a $4m seed round led by Alexis Ohanian's Seven Seven Six. The funding will enable the app, previously known as David's Disposable, to expand its scope and pursue its mission to restore joy and authenticity to social media. The rebrand will include a new look and feel, along with a number of new features that will enhance the experience for the growing Dispo community.
"I always say that when I invest in a company, that I'm investing in a founder and an idea, and Dispo is no exception," said Alexis Ohanian. "Many people know David Dobrik as the internet's best friend - he is fun personified, with an unmatched magnetism that draws people in. However, what people might not realize just yet, is that David is a motivated visionary who has a plan to reinstall authenticity into social media and create a safe and fun internet for all. I'm thrilled to work alongside David, Natalie, Daniel and the rest of the Dispo team in pursuit of this shared goal. We couldn't have invented a better first investment for Seven Seven Six."
Participating investors include Unshackled Ventures, Shrug Capital, Weekend Fund, members of the Vlog Squad, Latin World Entertainment's Sofia Vergara and Luis Balaguer, The Chainsmokers, Roivant CEO Vivek Ramaswamy, Lime CEO Wayne Ting, Knowable CEO Warren Shaeffer, Brud CEO Trevor McFedries, Pizzaslime co-founders Matt Hwang and Stove, and Ian "from Seatgeek" Borthwick.
"I always like to underpromise and overdeliver, but I'll be honest, Alexis Ohanian joining the team is already overdelivering in and of itself," said David Dobrik. "I'm beyond excited about the team and product we're building. I'm all about living in the moment and this app will embody just that. Wish us luck!"
"Dispo is thrilled to announce that two great superheroes of the internet have joined forces to restore joy and authenticity to social media. Alexis's vision for Seven Seven Six blew us away, and we could not be prouder to be his first investment. He and his team will fundamentally reinvent the practice of venture capital. Choosing Seven Seven Six as our lead investor was simple: Nobody understands the power of creators and social networks like Alexis Ohanian," said CEO Daniel Liss. "We are likewise thankful for the support of our many exceptional investors, who bring a wealth of expertise from Silicon Valley, Hollywood, the internet, and beyond. With their support, our team is rapidly expanding and ready to take on the world."
Co-founded by digital star and TV personality David Dobrik and his longtime confidante Natalie Mariduena, alongside digital power manager Jack Reed and entrepreneur Daniel Liss, Dispo topped the Apple charts upon release in December and has achieved millions of downloads. The app compels its fans to wait until the next morning for their photos to develop, digitally re-creating the delightful nostalgia and delayed gratification of waiting for film's development. This feature creates unique, raw, and authentic photos, preserving community and connection. Dispo seeks to create the next great social media network, built on authenticity.
About David Dobrik
David Dobrik is a digital star and TV personality known for making viral content on YouTube. With over 70 million followers across his platforms, Dobrik has mastered the art of quick-cut content. Named "Gen Z's Jimmy Fallon" by the Wall Street Journal, Dobrik exhibits his characteristic charm and undeniable relatability in everything he does. With his widely popular social media presence and podcast, VIEWS, Dobrik has elevated himself into international stardom. Dobrik starred alongside co-judges Ciara and Debbie Gibson, in Nickelodeon's series, America's Most Musical Family in 2019, hosted the Teen Choice Awards, presented at the American Music Awards and now hosts Discovery's newest show, Dodgeball Thunderdome. Dobrik also recently expanded his franchise into perfume with his debut fragrance line, David's Perfume by David Dobrik.
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