Snapchat Reportedly Loses $800 Million After Rihanna Slams Offensive Ad

17 March 2018, 15:09 | Updated: 17 March 2018, 16:29

Rihanna wearing a grey suit

Snapchat's stock took a dive after Rihanna told the company to "throw the whole app-oligy away."

Days after Rihanna called out Snapchat for an offensive ad which appeared on their platform, new reports indicate that the singer's clapback may have caused Snap Inc.'s stock market value to tumble to the tune of $800 million. 

It all started with an advert that asked Snapchat users whether they would rather "slap Rihanna" or "punch Chris Brown". Shortly after Snapchat users began circulating the photo on social media, Snap Inc. issued a statement confirming that the ad was approved in error. 

"We immediately removed the ad last weekend, once we became aware," they told the BBC. 

Rihanna snapchat ad

via Snap inc. 

Rihanna slammed the platform via Insa Stories, writing "Now SNAPCHAT, I know you already know you ain't my favourite app out there but I'm just trying to figure out what the point was with this mess!"

"Shame on you," she also wrote. Rihanna ended the blistering statement with the punny remark "throw the whole app-oligy away". 

Fans began sharing their intentions to delete the app and, soon after, it became clear the stock market was likely reacting to her statement in a big way. 

Snap shares reportedly fell by 4%, according to CNN, wiping out $800 million dollars from their stock market value. 

If that sounds familiar, you'll recall that Snap experienced similar billion-dollar woes after Kylie Jenner tweeted in February that she does "not open Snapchat anymore". 

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