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Rihanna joins the ‘Let’s wipe $1bn off Snapchat’s stock value’ club

Rihanna joins the ‘Let’s wipe $1bn off Snapchat’s stock value’ club

Yet another celebrity has been credited with single-handedly wiping a cool $1bn off the value of Snapchat owner Snap.

Rihanna has blasted the company following the controversy over an ad that asked users whether they would rather ‘slap Rihanna’ or ‘punch Chris Brown’. Brown was previously convicted of assaulting Rihanna.

“Now SNAPCHAT I know you already know you ain’t my fav app out there!” Rihanna said in a tweet. “But I’m just trying to figure out what the point was with this mess! 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 [domestic violence] victims and made a joke out of it!!! 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.”

Eh eh eh

Despite the accusation, Snap obviously did not create the graphic itself. It did, however, greenlight the ad – an act it has since apologised for, saying: "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."

Regardless, Snap shares fell five per cent on the outcry.

Snap suffered a similar fate in January when Kylie Jenner criticised its much-lamented redesign. That led to a similar stock plunge.


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