Tags: chrissy teigen | snapchat | snap | rihanna

Chrissy Teigen Quits Snapchat, and Snap Investors Don't Care

Chrissy Teigen Quits Snapchat, and Snap Investors Don't Care
Chrissy Teigen speaks onstage at the Create & Cultivate Los Angeles conference on Feb. 24. (Photo: Vivien Killilea/Getty Images)

Monday, 26 March 2018 09:42 AM

It looks like Hollywood celeb disses of Snapchat no longer have the power to sway investors' thinking about the prospects of the app's parent company.

Chrissy Teigen on Saturday tweeted that she's dropping Snapchat, citing a recent ad featuring Rihanna that made light of domestic violence and the widely maligned redesign for the social messaging and media app.

Whereas Snap's stock has fallen in past weeks after other top influencers criticized Snapchat, on Monday the company's shares opened up 0.6%, at $16.44 per share, amid buoyancy in broader markets. It could be a sign that the user backlash against Snapchat is already "baked in" to the stock price by investors.

"The update, the constant complaints of people not being able to find me, plus the Rihanna poll...no bueno," Teigen wrote in jumping on the Snapchat-hater bandwagon.

The move to boycott Snapchat by Teigen, the outspoken model who's married to John Legend, comes after Rihanna slammed the company for the ad (a poll asking users whether they'd rather "slap Rihanna" or "punch Chris Brown"). Shares closed down 3.6% on March 15 after the Snap flap.

And last month, Kylie Jenner tweeted her complaints about Snapchat's new redesign ("does anyone else not open Snapchat anymore? Or is it just me..."), which contributed to Snap stock dropping as much as 8%.

© 2019 Thomson/Reuters. All rights reserved.

   
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It looks like Hollywood celeb disses of Snapchat no longer have the power to sway investors' thinking about the prospects of the app's parent company.
chrissy teigen, snapchat, snap, rihanna
218
2018-42-26
Monday, 26 March 2018 09:42 AM
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