Snapchat Stocks Take A Hit After Rihanna Calls Out App For Domestic Violence Ad
Snapchat (Snap, Inc.) learned the hard way that it shouldn't get on Rihanna’s bad side. The app’s stock was on the decline Thursday, March 15, after the singer confronted the company for a domestic violence ad.
Snapchat Takes A Dive
Shares for the app went down nearly 5 percent, to $17.05, Thursday afternoon after it approved an ad that asked fans if they would rather punch Chris Brown or slap Rihanna. Fans are very familiar with Brown and Rihanna’s history in which Brown brutally assaulted Rihanna back in February 2009. After a series of back-and-forth, the two seemed to find peace with one another as Brown wished Rihanna a "happy birthday" this year.
While Snapchat took down the ad, Rihanna didn’t hesitate to address the company. She began by saying the company was well aware that it wasn’t a “favorite” of Rihanna’s to begin with. Still, she said she couldn’t understand why the company would approve such an ad.
“I’d love to call it ignorance, but I know you ain’t that dumb!” wrote Rihanna.
She added that the company aimed to embarrass those who have suffered domestic violence. She said her anger wasn’t about her, but about all domestic violence victims, from those who have managed to escape to those who are still suffering.
“You let us down! Shame on you," wrote Rihanna. "Throw the whole app-oligy away."
Snap issued a statement and apologized for the ad. It also blocked the advertiser that posted it on the app as the ad violates the company's policy that bans “shocking, sensational or disrespectful” content.
Fans Stand By Rihanna
As for fans, many said they are on Rihanna’s side and plan on deleting the app.
One said he would get the app just so he can delete it.
Rihanna said we should delete Snap Chat. I don't even have the app on my phone but I'm going to download and delete it immediately just for the culture — Henry Orji (@Hunccho) March 15, 2018
Another added that she’s deleting it simply because Rihanna said so.
Rihanna said we done with Snap, so guess what?! WE DONE WITH SNAP! — jb. (@alllthat_JAZZ) March 15, 2018
One fan pointed out that fans sided with Rihanna but didn’t stand by Monique in her battle against Netflix.
yall gonna delete Snap for Rihanna, but wouldnt stop watching Netflix for Mo'nique??? lmaoo this a cold world man — Bushido Brown (@Mackie_Velli) March 15, 2018
Another clapped it up for Rihanna and the notion that she could be the reason the company’s stock took a slight dive.
Rihanna doing God’s work, $SNAP tanking https://t.co/jcTwlcTSQP — (@22CVR_reborn) March 16, 2018
Snap Has A Bad Reputation With Celebrities?
Unfortunately for Snap, this isn’t the first time a celebrity’s influence has caused it to lose money. Reality star Kylie Jenner is also said to have had a hand in the company’s stock going down after she tweeted in February that SnapChat is not as popular as it once was.
The company’s stock declined six percent last month, lowering Snap’s company market value by $1.3 billion.
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