Silicon Beach Report March 15: Snapchat Posts Ad Referencing Domestic Violence, Stock Drops 4 Percent

Snapchat posts ad referring to domestic violence, stock drops 4 percent; Newegg becomes retail partner of Red Bull Gaming Sphere; and SpaceX wins $290 million government contract.

Snapchat Posts Ad Referencing Domestic Violence, Stock Drops 4 Percent

An ad for a Snapchat game asking Snapchat users whether they would rather “slap Rihanna” or “punch Chris Brown” drew criticism from Rihanna on another social media outlet and was soon followed by a 4 percent drop in the stock price for Snap Inc., the parent company of Snapchat.

Newegg Becomes Retail Partner of Red Bull Gaming Sphere

Tech e-tailer Newegg announced it is part of the Red Bull Gaming Sphere, a new gaming space in the London neighborhood of Shoreditch, which launches later this month, according to a release on Businesswire. The public-access studio – the largest in the UK – will act as a hub for the UK’s gaming and e-sports communities. “Basically, we are the official retail partner,” a Newegg spokesmen told the Business Journal. “Anything they use in the sphere, you can buy on Newegg. We will also put on some events there, but they will be streamed so everyone gets to watch and enjoy. Events will be things like tournaments, PC Building demos, e-sports tips and tricks.”

SpaceX Wins $290 Million Government Contract

SpaceX has won a potential two-year, $290.6 million contract to provide launch and mission support services for a U.S. Air Force GPS III satellite, Govconwire reports. The company will produce a launch vehicle and help the service branch conduct mission integration, launch operations, spaceflight worthiness and other mission-related activities, the Defense Department announced. The service branch will obligate $96.9 million at the time of award from its fiscal 2017 and fiscal 2018 space procurement funds.

Technology reporter Eli Horowitz can be reached at ehorowitz@labusinessjournal.com. Follow him on Twitter @coachhorowitz13 for the latest in L.A. tech news.

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