Rihanna’s impact, y’all.
Snapchat lost $800 million in market value Thursday after Rihanna ethered the app’s mockery of domestic violence victims. The app apologized on Wednesday for publishing an ad asking users if they’d rather “slap Rihanna” or “punch Chris Brown.” Snapchat claims the ad was approved “in error,” and say that they’re, “investigating how that happened so that we can make sure it never happens again.”
Rihanna wasn’t buying it. In a response via Instagram story, Rihanna said that the app should be ashamed, adding, “Throw the whole app-oligy away.”
Who knows how many of her followers followed Rihanna’s advice, but given the fact that this alone decreased Snapchat’s stock by four percent, and another one to two percent today, the app is proving itself to be incredibly vulnerable to celebrity opinion. In February, Kylie Jenner tweeted, “sooo does anyone else not open Snapchat anymore? Or is it just me... ugh this is so sad.” The next day, Snapchat lost $1.3 billion in market value.
I mean, Kylie asked a fair question: Who really uses Snapchat anymore? Besides Kylie, I guess.