Snapchat Down $800 Million in Value After Rihanna Criticism

Rihanna knocked nearly $800 million off Snapchat’s market value Thursday after publicly condemning the social-media app. The parent company’s stock dropped 3.6 percent following backlash it received for posting a “Would You Rather” advertisement that encouraged watchers to choose between “Slap Rihanna” or “Punch Chris Brown.” Rihanna experienced domestic violence at the hands of Chris Brown in 2009, in a grisly, highly publicized incident that landed her in the emergency room. “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 [domestic violence] victims and made a joke of it!!!” the singer wrote on her Instagram story Thursday. “Shame on you. Throw the whole app-oligy away.” Snapchat responded, saying that the “advertisement is disgusting and never should have appeared on our service.” This comes after the app’s stock also tanked after Kylie Jenner criticized its new update on Twitter last month.