THE RIRI EFFECT
When RIHANNA (30) talks, fans listen – so when the singer tore into Snapchat for allowing an offensive ad to run on its platform, the results were catastrophic. Her remark sent the app’s stock – and the net worth of founder EVAN SPIEGEL (27) – plum- meting, erasing nearly $800 million (R9,6 billion) from its market value.
The ad was for a game which gave users two options: “Slap Rihanna” or “Punch Chris Brown” – rather tasteless considering Rihanna and CHRIS BROWN (28) were involved in a domestic violence incident in 2009.
Rihanna issued a statement on Instagram, calling Snapchat out for the ad.
“You spent money to animate what would intentionally bring shame to DV (domestic violence) victims,” the Wild Thoughts singer wrote.
Snapchat quickly removed the ad and released a statement on Monday saying the advertisement was mistakenly approved and that it had violated its advertising guidelines.