Snapchat loses $1 billion after Rihanna's angry post BY EFUA RICHARDSON

Photo courtesy of Snapchat.

A third party advertisement featured on Snapchat promoted domestic violence, according to Rihanna.

Rihanna recently denounced an advertisement that appeared on the social media app Snapchat that resulted in the app’s stocks taking a downward spiral.


“Now SNAPCHAT, I know you already know you ain’t my fave app out there,” the singer wrote in an Instagram post. “You spent money to animate something that you knew would bring shame to [domestic violence] victims and made a joke of it,” she further explained.


The advertisement was for a third-party mobile game called “Would You Rather,” in which players select their preferred scenario over another. The advertisement prompted players to decide if they would rather “slap Rihanna” or “punch Chris Brown.”


In February 2009, Brown was convicted of domestic violence and battery against his then-girlfriend, Rihanna. The recent advertisement immediately brought into question why an app with over 150 million daily users of all backgrounds would display something that seemed to make light of domestic violence.


The advertisement, which had to undergo an approval process before being displayed on the platform, was quickly pulled, although it was too little too late. Fans and celebrities took to social media to condemn the post and offer words of encouragement to domestic violence survivors and victims.


Chelsea Clinton, in a tweet said it was “–awful anyone thinks this is funny [and] awful that any company would approve this.” She was one of thousands around the globe expressing their discontent.


“You let [victims of domestic abuse] down,” Rihanna continued on Instagram, “shame on you. Throw the whole app-oligy away,” she said to her 61 million Instagram followers. Following the post, Snapchat stock plummeted by 4 percent, losing the app nearly a billion dollars, evidently due to fans deleting the app from their devices and investors taking action to expunge their stocks.


Snapchat apologized after pulling the advertisement and then released a statement condeming the post saying it was removed due to it violating advertising guidelines which prohibit “shocking, sensational, or disrespectful content.”


This is not the first time the social media platform has experienced a stock plunge. In February, a tweet was made by reality TV star and beauty influencer Kylie Jenner in which she stated that she was no longer using the app. The company’s stocks fell nearly 6 percent, as they lost nearly $1.3 billion in market value.

The app is now working on new integrations to bring users back.



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