Snapchat lost $800 million after Rihanna criticized its ad, Just Jared has learned. Rihanna called out the app for featuring an ad for a “Would You Rather?” game that presented the option to either slap Rihanna or punch Chris Brown. The ad, which was created by a third party but had to undergo an approval process by Snapchat, was taken down, but not before quite a lot of damage was done. Snapchat stocks plunged by 4 percent on Thursday, according to The Wall Street Journal, losing the app nearly a billion dollars this week—evidently due to Rihanna fans who decided to delete the platform from their smartphones.
It then fell another one percent on Friday (March 16). The loss wiped out “nearly $800 million from its market value.”
Rihanna called out the app for featuring an ad for a “Would You Rather?” game that presented the option to either slap Rihanna or punch Chris Brown. She denounced the ad, and the company issued two apologies.
This follows another celebrity hit: Snapchat’s stock dropped $1.3 billion in value after Kylie Jenner said she doesn’t use the app anymore last month.
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