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Snapchat Lost $800 Million After Rihanna Condemned It For Inappropriate Ad

Written by Sam Murphy on March 18, 2018

Snapchat has lost $US800 million from its market value after Rihanna publicly criticised the app.

The app came under fire after it allowed an advertisement to be published which asked whether its users would slap Rihanna or punch Chris Brown.

Snapchat issued an apology calling the advert “disgusting” and blaming it on an automated ad-buying platform but Rihanna had the final word telling her followers to delete the app.

“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,” she wrote.

“Throw the whole app-ology away.”

As CNN report, the stock prices have fallen by 4 per cent since then, wiping an estimated $US800 million off its market value which is a pretty large blow.

It’s the second blow for the app in as many months. After Kylie Jenner tweeted that she was “bored” with the app, its stock prices fell by 6 per cent.

It can’t really stop Jenner from expressing her opinions but it should know better than to mess with RiRi.

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