Curastory Founder steps Down After SEC Accusations of Revenue Misrepresentation

The Securities and Exchange Commission accused content monetization startup Curastory of overstating revenue to investors and misrepresenting its client numbers, according to documents reviewed by TechCrunch.

Consequently of a settlement with the SEC, CurastoryS founder and CEO, tiffany Kelly, has resigned and been replaced by Dave Dickman, former CEO of the influencer marketing platform Tagger.

Under Dickman’s leadership,the company has initiated fundraising,international expansion plans,and product updates,Kelly and Dickman told TechCrunch.

The settlement agreement specifically bars Kelly for 10 years from serving on the board of directors or as an executive at any company that raises funds. TechCrunch reviewed a version of this agreement that had not yet been finalized. It stated that Kelly agreed to thes stipulations without admitting to or denying the allegations.

Although Kelly remains a major shareholder and will continue as an advisor, she told TechCrunch that “stepping aside was truly the only decision that I could make just to keep the company alive and thriving.”

Kelly founded the company in 2021. curastory is a platform that helps content creators monetize their videos and has grown to approximately 400,000 creators, she said. It enables advertisers to purchase in-video ads from creators, while tracking metrics and supporting features like video editing.

The company has raised around $3 million to date from investors, including Lightspeed’s Scout Fund, Feld Ventures, and Mindspring Capital, according to PitchBook, which also lists Curastory as having participated in accelerator programs like techstars and the SPARK Program, held by AMEX Ventures and Proj