Grammy-winning singer Rihanna is not your average superstar. The high-profile crooner’s publicized Snapchat ripping Thursday (March 15) has helped deliver a serious blow to the social media giant’s stock.
According to reports, Snapchat suffered a huge drop in shares after RiRi went at the company over an insensitive advertisement featuring herself and former boyfriend Chris Brown.
Shares of Snap plunged as much as 5 percent to session lows on Thursday after Rihanna instructed her 60.9 million Instagram followers to delete the app. It’s the second time in a month an A-lister has done some serious damage to Snap’s market capitalization. The company’s shares plunged as much as 5 percent, knocking $600 million off the market capitalization. (CNBC)
https://twitter.com/bluntedbekah/status/974319928189763584
Snapchat is cancelled because queen @rihanna said so π»π« https://t.co/e5FpLX3vtN
— DaβΉβ° βπΎπ΅πΈ (@DigitalAbdullah) March 15, 2018
Earlier in the day, RiRi made headlines after publicly going at Snapchat.
Yup πΈ @rihanna kept it super π― on @Snapchat! βπΎ pic.twitter.com/FvsfUKdBnH
— SOHH (@sohh) March 15, 2018
This week, Snapchat issued an apology for allowing the disturbing commercial to run on its app.
Snap told Newsbeat the advert, which was only published in the US, was published “in error” and had been removed immediately. Snap said: “The advert was reviewed and approved in error, as it violates our advertising guidelines. We immediately removed the ad last weekend, once we became aware.” “We are sorry that this happened,” it added. (BBC)
Is it just me, or is this ad that popped up on my Snapchat extremely tone deaf? Like what were they thinking with this? pic.twitter.com/7kP9RHcgNG
— Royce Mann (@TheRoyceMann) March 12, 2018
https://twitter.com/MsPackyetti/status/973077777313419264
Just awful. Awful that anyone thinks this is funny. Awful that anyone thinks this is appropriate. Awful that any company would approve this. Thank you Brittany for calling this out.
— Chelsea Clinton (@ChelseaClinton) March 12, 2018
Coincidentally, reality TV star Kylie Jenner recently threw a major jab at Snapchat.
sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.
— Kylie Jenner (@KylieJenner) February 21, 2018
still love you tho snap … my first love
— Kylie Jenner (@KylieJenner) February 21, 2018
Just awful. Awful that anyone thinks this is funny. Awful that anyone thinks this is appropriate. Awful that any company would approve this. Thank you Brittany for calling this out.
— Chelsea Clinton (@ChelseaClinton) March 12, 2018