$800 Million Loss for Snapchat After Rihanna Criticizes the App over Offensive Ad

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On Thursday, Snapchat had an $800 million loss according to The Wall Street Journal, when Snapchat’s stock price plunged by nearly 4 percent, after Rihanna criticized the app over an offensive ad.

Last week, Snapchat posted an advertisement which asked users to choose whether they would prefer to “slap Rihanna” or “punch Chris Brown.” The ad got loads of criticism from users causing Snapchat to remove the ad and issue an apology. But Rihanna posted a statement on social media slamming the App for making fun of domestic violence. The singer wrote, “You spent money to animate something that would intentionally bring shame to DV victims and made a joke of it!!!” she posted on her Instagram story on Thursday. “This isn’t about my personal feelings, cause I don’t have much of them…but all the women, children, and men that have been victims of DV in the past and especially the ones who haven’t made it out yet…You let us down! Shame on you. Throw the whole app-oligy away.”

Rihanna’s fans decided to delete the app from their cell phones, resulting in share prices for Snapchat declining.

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