#TSRUpdatez: Snapchat Responds After Reportedly Losing $800M In Market Value After Rihanna’s Clap Back

#Roommates, a controversial #SnapChat post asking users if they’d rather “slap #Rihanna” or “punch #ChrisBrown” is costing them some BIG bucks after #Rihanna clapped back on her Instagram.

As we reported the social media giant has already seen a 4% decrease in sales but now according to @CNNTech, #Snapchat reportedly lost $800 million in market value!

In a statement to #CNN,Snapchat said: “We are investigating how that happened so that we can make sure it never happens again.”

Snapchat’s Chief Strategy Officer said: “This is a make or break [year] for Snap and although we believe it’s heading in the right strategic direction, the Rihanna backlash and ad is another gut punch for this company”

It seems the ad was a huge oversight on their end and they are doing everything they can to make sure it never happens again. How will this impact the social media giant? Only time can tell. But if it’s one thing we have learned is social media giveth and taketh away!

Source: http://money.cnn.com/2018/03/16/technology/snapchat-stock-rihanna/index.html