Is Snapchat Doomed?

posted by Paul James - 

Snapchat co-founder and CEO Evan Spiegel's net worth is down nearly 150-million dollars since Rihanna dissed the social media app.

The pop star went after Snapchat and told users to delete it last Thursday. Its shares fell almost five-percent over the next two days. That comes to about 800-million bucks. That lopped a small chunk from Spiegel's net worth, though it probably won't affect his lifestyle. He's still worth an estimated three-point-eight billion dollars. Rihanna took aim at Snapchat after the app released an ad asking users if they'd rather slap her or punch Chris Brown. Brown is Rihanna's former boyfriend who pleaded guilty to assault for violently attacking her in 2009.

Kylie Jenner had already taken Snapchat to task about their redesign, making the stock shaky. 

Source: US Weekly

Paul James

Paul James

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