Turbulence in Dapper Labs: CEO Accused of Bullying and Extravagant Spending

03/02/2023 09:06 • Digital Disruptors • 120 views

On March 2, the CEO of Dapper Labs, Roham Gharegozlou, was criticized for allegedly aggravating the company’s turbulence in layoffs and landmark NFT litigation. The former employee said that his bullying of employees and extravagant spending led to high turnover of employees. Last November, Dapper Labs announced a 22% layoff, and another 20% in February this year.

The CEO of Dapper Labs was accused of bullying and excessive spending by former employees

Analysis based on this information:

Dapper Labs, the blockchain company famous for creating CryptoKitties and NBA Top Shot, has been hit by turbulence due to layoffs and legal battles related to non-fungible tokens (NFTs). However, the company’s recent problems have been compounded by allegations against its CEO, Roham Gharegozlou, who has been accused of bullying employees and excessive spending. A former employee of Dapper Labs has come forward to accuse Gharegozlou of creating a toxic work environment and causing high staff turnover.

According to the anonymous whistleblower, Gharegozlou has been known to berate and belittle employees, and often disregards their input and feedback. The CEO’s approach allegedly caused several talented employees to leave the company, which has further exacerbated the turbulence faced by Dapper Labs. The whistleblower also accused Gharegozlou of being extravagant in his spending, such as flying first-class and booking expensive hotels for himself and his family, despite the company’s financial struggles.

These allegations couldn’t have come at a worse time for Dapper Labs, as the company has already announced two rounds of layoffs in recent months. In November 2020, Dapper Labs laid off 22% of its workforce, citing the need to streamline operations and focus on its core products. However, the company’s troubles continued in February 2021, when another 20% of the staff was let go. At the time, Gharegozlou mentioned that the layoffs were necessary to ensure the company’s long-term viability and success.

Apart from the layoffs, Dapper Labs has also been embroiled in a legal battle with a group of investors who claim that they were misled about the true value of NBA Top Shot NFTs, which are currently being sold for millions of dollars. The lawsuit alleges that Dapper Labs made false and misleading statements about the scarcity and value of these tokens, which resulted in significant financial losses for investors.

In conclusion, Dapper Labs finds itself in the midst of a perfect storm of difficulties: layoffs, legal battles, and allegations of impropriety against its CEO. The company will have to navigate these choppy waters carefully if it hopes to emerge stronger and regain the trust of its employees and investors.

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Turbulence in Dapper Labs: CEO Accused of Bullying and Extravagant Spending

The CEO of Dapper Labs was accused of bullying and excessive spending by former employees

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