Kylie Jenner, famous for being the sister of someone famous for being famous, proved that with a few taps at her phone she could seriously shake up the tech world. On Wednesday, she tweeted that she barely uses Snapchat, presumably in the wake of its poorly-received redesign. And that very day, the company's stock plummeted 6%, or $1.3 billion.
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, Jenner's tweet highlighted user trends:
Shares of the Snapchat parent company sank 6.1 percent on Thursday, wiping out $1.3 billion in market value, on the heels of a tweet on Wednesday from Kylie Jenner, who said she doesn’t open the app anymore. Whether it’s the demands of her newfound motherhood, or the recent app redesign, the testament drew similar replies from her 24.5 million followers. Wall Street analysts too have begun to notice, citing recent user engagement trends noticed since the platform’s redesign.
And it seems that Jenner didn't just cost Snapchat a bundle of bucks. She also indirectly aided Facebook, owner of competing app Instagram. According to Marie Claire, Facebook's stock closed Friday up $13 billion from where it was prior to Jenner's Snapchat snub. Let the illuminati conspiracy theories commence.
You Might Also Like