How Chrissy Teigen quitting Snapchat, following Rihanna, could easily lead to a stock price shock

“No bueno.”
“No bueno.”
Image: Reuters/Mario Anzuoni
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Chrissy Teigen, an American model who became an even more popular celebrity through her prolific and often humorous use of social media, just dealt Snapchat a blow.

Standing in solidarity with R&B singer Rihanna, whose criticism of the social media app led to a hit on the company’s stock, Teigan said: ”I stopped using snap. The update, the constant complaints of people not being able to find me, plus the Rihanna poll…no bueno.”

The declaration may not seem like a big deal to the naked eye but heavy-Snap using celebrities are a driving force influencers on the social platform. When reality TV star Kylie Jenner hinted in a tweet that she was considering quitting the platform, the company’s stock dropped 6%. Sure, it wasn’t all down to her, but it most certainly indicated a sentiment felt by one of its most popular users and caused analysts to question the popularity of the update amongst the millennial audience. Teigen’s tweet reaffirms that.

Earlier this month, Rihanna said Snapchat was guilty of “shaming” domestic violence victims. The singer posted a lengthy note on Instagram, Snapchat’s closest rival, saying she was “trying to figure out what the point was with this mess.” The complaint later dented Snapchat’s stock.

Rihanna’s response comes after she discovered she was a subject of an advert on Snapchat for a game that asked users if they would “rather slap Rihanna or punch Chris Brown.” In 2009, singer Chris Brown was convicted of assaulting Rihanna while they were dating. The ad was created by a third-party site not associated with Snapchat, and the company quickly removed it. The “Work” singer has since quit Snapchat and urged her followers to do the same.

Snap said in a statement at the time:

“This advertisement is disgusting and never should have appeared on our service. We are so sorry we made the terrible mistake of allowing it through our review process. We are investigating how that happened so that we can make sure it never happens again.”

However, Rihanna said that the ad should’ve never made it onto the app in the first place.