Rihanna’s Criticism Of Snapchat Sees Company Lose Close To $1 Billion

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chris ubosi

Remember when Rihanna tweeted “every tongue that rises up against me shall fall” back in 2012? You can’t say she didn’t warn Snapchat. 

There are strong indications that Snapchat’s market value has dropped by almost $1 billion after Rihanna criticised the social media platform for making light of domestic violence.

On Thursday, the singer had slammed the company for an advert that encouraged users to either ‘Slap Rihanna’ or ‘Punch Chris Brown’.

Bear in mind that Chris Brown had pleaded guilty in 2009 to beating Rihanna during an argument while they were dating.

Later that year, he received five years probation and six months of community service.

However, the ad was greeted with a huge backlash among users, with Rihanna responding by slamming the app via her Instagram story.

She accused the service of “[spending] money to animate something that would intentionally bring shame to domestic violence victims.”

“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!” the singer 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.”

She added: “Shame on you.”

The controversy has led to a 6 percent dip in the company’s stock as Snap shares plunged nearly 4 percent on Thursday, wiping out roughly $800 million from its market value, according to The Wall Street Journal and CNN, and during Friday, March 16, trading the stock slid another 1-2 percent.

Meanwhile, Snapchat said in a statement that they are “investigating how [the advert] happened so that we can make sure it never happens again.”

“We are investigating how that happened so that we can make sure it never happens again,” the company said.

Datboyjerry

Datboyjerry

I am but your herald boy in the art of the pen.. An eccentric Environmental Biologist smouldered in the glorious epiphany of online journalism. If you ever find my article unduly insipid, sue me and i’ll refund you...

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