Snapchat Lost $600 Million In Value After Rihanna Criticized Its Offensive Ad

Singer Rihanna criticized Snapchat for allowing an offensive mobile game ad that promotes domestic violence.

The advertisement for a game called Would You Rather asked viewers if they would "rather slap Rihanna or punch Chris Brown."

This relates to the 2009 incident when Brown attacked his then-girlfriend Rihanna. A day before that year's Grammy Awards, Brown pleaded guilty to assaulting her to the point of hospitalization.

Following some serious user backlash, Snapchat removed the ad from the app, saying that "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," Snapchat said in a statement.

"We are sorry that this happened."

But Rihanna wasn't ready to accept the apology and posted the following message on her Instagram Story:

Previously, the Barbadian singer has spoken out about how painful it is to be forced to read about such a traumatic experience in the news long after it happened. "For me, and anyone who's been a victim of domestic abuse, nobody wants to even remember it. Nobody even wants to admit it. So to talk about it and say it once, much less 200 times, is like...I have to be punished for it?"

This incident took Snap, Inc.'s share to fall rapidly through the course of the day. The company stock closed at $17.20 on Thursday, or down by nearly 4 percent.

According to CNBC, the drop was enough to put a $600 million dent on the company's value.

This is the second in the recent moment that a celebrity's social media post has affected Snapchat. Previously, Kylie Jenner sent a tweet that made the company's shares to sank to as much as 7.2 percent, wiping out $1.3 billion in market value.