Snapchat Stock Loses Almost $800 Million After Rihanna Claps Back At Offensive Ad

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Snapchat’s stock dipped nearly 4 percent and lost about $800 million from its market value after Rihanna called out the social media platform for its offensive advert earlier this week.

The company issued an apology to the Bajan singer after removing an advert that asked users if they’d rather “slap Rihanna or punch Chris Brown.”

Rihanna later issued a statement on her Instagram account calling out Snapchat for the commercial:

“Now SNAPCHAT I know you already know you ain’t my fav app out there! But I’m just trying to figure out what the point was with this mess!” she wrote. “I’d love to call it ignorance but I know you ain’t that dumb. You spent money to animate something that would intentionally bring shame to DV victims and made a joke of it.”

“Shame on you,” she added. “Throw the whole app-oligy away.”

 

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Her fans promptly agreed, and started deleting the app. Snapchat’s stock was down one percent by closing on Friday, CNN reports.

The dip comes a few weeks after after Kylie Jenner complained about the platform’s redesign.

“Sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad,” Jenner tweeted.

Her comment sent Snapchat’s stock down 6 percent, wiping $1.3 billion off the company’s market value.

 

 

Via Essence

 

 

 

 


 

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