With One Tweet Kylie Jenner Brought Down Snap’s Value by $1.3 Billion
If you’ve ever questioned the power of the Kardashian-Jenner clan, get a hold of this. Snap Inc. – the parent company of Snapchat had a rough day yesterday after Kylie Jenner took to Twitter voicing her opinion on the social media platform.
sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.
— Kylie Jenner (@KylieJenner) February 21, 2018
According to Bloomberg News, Snap’s shares took a 6.1 per cent dive on Thursday which equated to $1.3 billion in market value after Kylie Jenner’s tweet which stated she doesn’t open the app anymore.
The reasons why Kylie doesn’t use Snapchat anymore aren’t very clear, but her sentiment towards Snapchat seemed to be echoed by her 24.5 million Twitter followers.
It’s not just Insta-celebs who have been noticing Snapchat’s decline. According to Bloomberg, Wall Street analysts have also taken note, sighting Snapchat’s new platform redesign as a reason for the loss of users.
Photo Via Instagram @KylieJenner