SnapChat loses nearly $1 billion after Rihanna calls them out and tells them to keep their app-oligy
“You let us down! Shame on you. Throw the whole app-oligy away.” https://t.co/Z21XlBD4Wh— VANITY FAIR (@VanityFair) March 17, 2018
• Earlier this week, SnapChat removed an offensive ad which asked users whether they'd “rather slap Rihanna or punch Chris Brown?”
• Rihanna then took to Instagram’s Stories feature which rivals SnapChat to call them out. In it she says, “Now SNAPCHAT I know you know already know you ain't my fav app out there! 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 victims and made a joke 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.”
• Following Rihanna’s statement, SnapChat responded by apologizing again: “This advertisement is disgusting and never should have appeared on our service. We are so sorry we made the terrible mistake of allowing it through our review process. We are investigating how that happened so that we can make sure it never happens again.”
• But Too Little, Too Late: SnapChat stocks plunged by 4 percent on Thursday, according to The Wall Street Journal, losing Snap Inc. nearly a billion dollars ($800 million to be exact) this week due to Rihanna's criticism of the app and the backlash the ad has gotten.
welp. Snap Inc:
ONTD, are you still using SnapChat?
Aw, poor dat #neaux1currrrr— Rihanna (@rihanna) May 10, 2012