Did Rihanna Make Snapchat Lose $800 Million?

Snapchat is facing the wrath of Rihanna and her Navy, plus it may have a huge impact on their bottom-line. According to CNN, Snap Inc.'S (SNAP) stock went down almost 4 percent this Friday (March 17), which is a $800 million loss from the company's market value. While the tumble may not all be Rihanna's doing, the PR nightmare does nothing to help the social-media platform.


Yesterday (March 16), the Anti singer took to Instagram stories to condemn Snapchat's offensive ad making light of domestic abuse.


"Now SNAPCHAT I know you already know you ain't my fav app out there," Rihanna wrote. Yet I'm just attempting to identify what the point was with this disaster! I'd love to call it ignorance, yet I know you ain't that dumb!"


In light of the controversy, TMZ is reporting that Snap Inc. Is attempting to bring on a rep from the National Network to End Domestic Violence to their board. This is far from the initial time a celebrity has expressed displeasure with the more and more beleaguered platform. In February, Kylie Jenner voiced her disapproval at Snapchat's new user experience.


According to Bloomberg, Snap's shares dropped 6.1 percent soon following the tweet, which erased $1.3 billion in market value from the business. With Snapchat facing mounting controversy, a backlash from the recent recreate, and continued competition from Instagram it will interesting to be able to see how or if Snap can bounce back.