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SoftBank sues social media startup it invested in, alleging it faked user numbers

SoftBank sues social media startup it invested in, alleging it faked user numbers

SoftBank Founder Masayoshi Son is pictured here in 2019 during an earnings presentation.

Tomohiro Ohsumi | Getty Images

SoftBank’s Vision Fund filed suit against the founders of one of its portfolio companies Monday, alleging that they artificially inflated user metrics, lied to the fund about performance and bilked the fund for millions.

Buzzy social media startup IRL launched in April 2021 and was seemingly “one of the fastest growing social…


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