VShojo, the VTuber talent agency, faced significant backlash as allegations arose regarding the mishandling of funds, including a failure to pay talent and donate over $515,000 raised for charity. CEO Justin Ignacio acknowledged mismanagement and financial difficulties, stating that funds were misallocated in a failed attempt to secure investments. Despite raising around $11 million aimed at a talent-first model, the company struggled financially and has now decided to shut down. Several former talents claim their nondisclosure agreements may no longer hold value due to the situation.
CEO Justin Ignacio admitted, 'mismanaged the company into the situation you're all witnessing,' confirming severe financial difficulties despite raising around $11 million.
Ignacio claimed funds were misallocated, saying he thought 'additional investment capital' would cover costs, but they were unsuccessful in fundraising efforts.
Following backlash over the mismanagement allegations, several VTubers indicated their nondisclosure agreements might no longer be valid now that VShojo is shutting down.
Ironmouse alleged VShojo failed to donate over $515,000 raised for charity, sparking public outrage and bringing attention to the agency's financial mismanagement.
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