The Securities and Exchange Commission has forced out Curastory's founder and CEO Tiffany Kelly after accusing the content monetization startup of overstating revenue to investors and misrepresenting client numbers. Kelly has been replaced by Dave Dickman, former CEO of influencer marketing platform Tagger, in a rare founder-controlled succession following regulatory action.
The creator economy just witnessed one of its most dramatic leadership shakeups. Curastory, a platform helping content creators monetize their videos, has replaced founder and CEO Tiffany Kelly with Dave Dickman, former CEO of influencer marketing platform Tagger, following a Securities and Exchange Commission settlement.
The SEC accused Kelly and her startup of overstating revenue to investors and misrepresenting true client numbers, according to paperwork seen by TechCrunch. The settlement agreement bars Kelly for ten years from serving on any board of directors or as an executive at companies seeking to fundraise - essentially ending her ability to lead venture-backed startups during what should be her prime entrepreneurial years.
"Stepping aside was truly the only decision that I could make just to keep the company alive and thriving," Kelly told TechCrunch. The founder agreed to the stipulations without admitting to or denying the allegations, and also agreed to pay an undisclosed fine as part of the resolution.
What makes this case unusual is Kelly's ability to handpick her successor - a luxury most ousted founders don't get. She tasked an executive recruiter with finding "someone who was a good person, who wouldn't strip and sell the company for quick cash, and who would understand the technology." Enter Dickman, who spent decades in the creator space before joining Curastory just weeks ago.
The timing couldn't be more critical for the startup. Founded in 2021, Curastory has grown to serve about 400,000 creators through its platform that lets advertisers buy in-video ads directly from content makers. The company has raised around $3 million from investors including LightSpeed's Scout Fund, Feld Ventures, and Mindspring Capital, while participating in accelerator programs like Techstars and AMEX Ventures' SPARK Program.
Dickman's impact is already being felt. Kelly revealed that his fundraising deck recently made it to a VC fund's desk, something that was forwarded to other potential investors - a stark contrast to her own fundraising struggles. "I have not had that experience with fundraising, as you could probably imagine," she said, referencing the well-documented challenges facing women founders, particularly Black women, in securing venture capital.
