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Snapchat’s Value Drops Following Recent Rihanna Controversy

March 17, 2018 | Posted by Larry Csonka

Earlier this week, Snapchat apologized for an advertisement that referenced Chris Brown’s infamous domestic violence assault on Rihanna. The video service became the target of criticism after it featured an ad for a game called “Would You Rather?” which asked users if they would rather slap Rihanna or punch Chris Brown. Rihanna took shots at Snapchat for referencing her attack by Chris Brown in 2009 in an ad for their service. Snapchat later apologized and said that they want to do more to address the issue.

According to Billboard, Snapchat shares are down for a second straight day after the criticism from Rihanna. On Thursday, Snap shares plunged nearly 4 percent, wiping out roughly $800 million from its market value, and during Friday trading the stock has slid another 1-2 percent. This latest controversy comes less than a month after Kylie Jenner’s criticism of Snapchat’s redesign, which sent its share price down 6 percent, which was $1.3 billion of the company’s value.

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Rihanna, Larry Csonka