Rihanna sends Snap’s stock tumbling.
Shares of Snap Inc. dropped by nearly five percent Thursday after Rihanna responded to Snapchat running an ad that made light of domestic violence, Time reports.
See original story below:
Update: Rihanna went on Instagram Stories to respond to the unfortunate Snapchat ad.
Here’s what she wrote:
Rihanna responding to Snapchat’s ad. I can’t believe they did this. pic.twitter.com/TpHQIXTm4j
— Gennette Cordova (@GNCordova) March 15, 2018
“Throw the whole app-oligy away” is a great bar from Rihanna. Is this the end of Snapchat?
See below for original story.
Snapchat has removed the ad and issued an apology.
In an advertisement game recently posted to Snapchat, the platform featured a section asking users, “Would you rather slap Rihanna or Punch Chris Brown?” After receiving public backlash, Snapchat has removed the ad and issued a statement saying it “makes light of domestic violence.”
The ad appeared to reference Chris Brown’s conviction for assaulting Rihanna in 2009 while they were dating.
Snapchat issued a statement to Newsbeat saying, “The advert was reviewed and approved in error, as it violates our advertising guidelines. We immediately removed the ad last weekend, once we became aware,” adding “We are sorry that this happened.”
Is it just me, or is this ad that popped up on my Snapchat extremely tone deaf? Like what were they thinking with this? pic.twitter.com/7kP9RHcgNG
— Royce Mann (@TheRoyceMann) March 12, 2018
According to Snapchat’s advertising policy outlined on its website, all ads are subject to a review process prior to posting.
“All ads are subject to our review and approval. We reserve the right to reject or remove any ad in our sole discretion for any reason.
“We also reserve the right to request modifications to any ad, and to require factual substantiation for any claim made in an ad,” it says.
Snapchat has a list of banned content, that is deemed “shocking, sensational, or disrespectful.”
Earlier this year a reported $1.3 billion was wiped off the value of Snapchat when Kylie Jenner tweeted she was “soo over” the app after the app enforced a controversial update which makes ads more prominent to users.