This Kylie Jenner’s tweet just cost Snapchat Sh130 billion
If you doubted the influence of Kylie Jenner, doubt no more.
In one tweet, the American TV reality star wiped out $1.3 billion of snapchat’s market value.
She wondered whether anyone still uses the app, which is popular with the young people between the ages of 16 and 22.
sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.
— Kylie Jenner (@KylieJenner) February 21, 2018
Bloomberg reports that shares of the Snapchat parent company fell 6.1 per cent after the tweet went out on Thursday, which is an equivalent of Sh130 billion ($1.3 billion) in market value.
Kylie, who gave birth to a baby girl early this month has 24.5 million followers. The tweet got more than 55,000 retweets, 300,000 likes and drew 3,800 responses.
Many of her followers reacted differently although majority agreed with her.
Her attempt at cleaning up the mess bore little fruit as her tweet: “Still love you tho snap,” got much less attention. It only received 4,200 retweets, 62,000 likes and 675 responses.
According to analysts on Wall Street, the redesign of the app may have been the cause of the disdain with many users failing to log in.
Some companies in the US have launched campaigns to have people follow and check their updates on Snapchat.
Kylie is one of the best paid celebrities for social media endorsements. She rakes in at least Sh40 million ($400,000) per post on Instagram, according to bet.com.
Do you have an experience with Snapchat? Share on the comments section below.