Snapchat stock loses $800 million after Rihanna responds to offensive ad


"Shame on you. Throw the whole app-oligy away", Rihanna said in her sharp comments following which the Snap Inc. "I'd love to call it ignorance but I know you ain't that dumb".

Snapchat has since apologised to the musician and in an official statement explained how, "The advert was reviewed and approved in error, as it violates our advertising guidelines." .

"You spent money to animate something that would intentionally bring shame to DV (domestic violence) victims and made a joke of it!" she wrote.

Although, the deed is already done as Snapchat's stock plummeted by almost 4 percent by the end of Thursday when Rihanna's post went live.

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"Social media platforms continue to have troubles with catching all offensive ads and content as we have seen from the likes of Facebook and Twitter", Ives told CNN.

Snapchat came under fire earlier this week after running an ad created by a third party, which modeled itself after a "Would You Rather?" game.

The ad immediately received a vocal backlash on social media, with notables like Chelsea Clinton coming forward to question Snapchat's judgment in choosing to run the ad, reported.

Brown pleaded guilty to felony assault for his attack on Rihanna in 2009 just hours before the Grammy Awards. "Or is it just me... ugh this is so sad", Jenner tweeted, sending Snap's down 6% and wiping $1.3 billion off the company's market value. Very bad that anyone thinks this is appropriate.

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Snapchat's market value has dropped nearly $1 billion, after Rihanna criticised the social media platform for making light of domestic violence.

Rihanna's post reportedly wiped off nearly $1 billion of Snapchat's market value.

"This advertisement is disgusting and never should have appeared on our service", a Snapchat spokesperson said in a statement. "We are investigating how that happened so that we can make sure it never happens again".

Last month after Snapchat changed its layout, Kylie Jenner, one of its most popular users, tweeted that she was no longer using the app.

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