Snapchat Loses Nearly $1 Billion After Rihanna Puts App On Blast

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After singer Rihanna caught wind of a problematic ad making light of her 2009 assault, she made sure her voice was heard.

Snapchat has lost $US800 million from its market value after Rihanna publicly criticised the app.

Snapchat launched an advertisement in which relativized the aggression suffered by the singer Rihanna by her ex-boyfriend Chris Brown. One of the would-you-rathers-which asked users to choose whether they would prefer to "slap Rihanna" or "punch Chris Brown"-drew criticism from users of the app, as well as from Rihanna herself, whose callout post on Instagram apparently cost the app $800 million".

"SNAPCHAT I know you know you ain't my fav app out there! Throw the whole app-oligy away". Rihanna, 30, wrote. "I'd love to call it ignorance but I know you ain't that dumb!"

Brown plead guilty to felony assault in 2009 after he violently bashed, choked, bit, and threatened to kill his then girlfriend, Rihanna. You spent money to animate something that would potentially bring shame to DV victims and made a joke of it!

Snapchat posted an extremely distasteful ad to its App recent, but leave it to Rihanna to handle business.

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Snapchat issued its statement via BBC's Newsbeat, saying that "t$3 he advert was reviewed and approved in error, as it violates our advertising guidelines".

Evan Spiegel, Cofounder and CEO, of Snap Inc., the parent company of Snapchat, is now worth an estimated $3.8 billion, according to Forbes' real-time rankings of the planet's wealthiest people on Saturday.

"We regret the bad mistake of allowing it to go through our review process", they confessed from the social network.

The statement resulted in a stock drop of several percentage points for the app. "We are sorry that this happened".

Last month a tweet from Kylie Jenner, who said she nearly no longer uses Snapchat, caused the company's stock to fall even more than on Thursday. "Or is it just me... ugh this is so sad", Jenner tweeted.

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