INFLUENCE! Did Kylie Jenner’ single tweet cost Snapchat $1.3 billion loss in stock value?

Born of Web

February 23, 2018
3 min read
Kylie Jenner Snapchat

Kylie Jenner’s earth-shattering tweet on Snapchat drew massive response on Twitter, causing the mobile application a loss of over a billion dollars

Well, some people are really discussing whether influencers are worth it or not! They are bothered today because brands spend way too much in order to pamper “influencers”, who can allegedly “make or break” brands with their growing net. In fact, their single post on social media is pegged at millions of dollars. Well, you could have argued all these theories until Wednesday when one tweet from a global influencer actually cost a popular social media application “millions of dollars”.

WHAT? Social media personality and model Kylie Jenner made a simple yet earth-shattering tweet, asking people if they are still active on Snapchat, because she is not using it anymore! The tweet that appeared initially routine turned out to be a massive setback for Snapchat as it drew over 59,000 retweets with over 3 lakh people liking it. According to CNN Money, as reported by Huffpost, the stock price of Snap, Snapchat’s parent company, fell about 6 per cent closing at $17.51 on Thursday, in flat 24 hours. This means a $1.3 billion loss in the market value!

sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.

— Kylie Jenner (@KylieJenner) February 21, 2018

However, having said that, there are also reports of Snapchat drawing massive ire from its users after the application was redesigned last November. According to TechCrunch, Citigroup downgraded the stock last Tuesday because November’s Snapchat redesign has alienated many of its users. This means that Jenner’s tweet and the drop in Snap’s stock might have been a coincidence.

Interestingly, Jenner’s tweet was followed by Maybelline New York, asking their followers whether or not the brand should stay on Snapchat! The beauty-product brand owned by Paris-based L’Oreal SA said its “Snapchat views have dropped dramatically,” but it still wanted to connect with its followers.

Kylie Jenner, who has some 24.5 million followers on Twitter, later shared her admiration for Snapchat with another tweet.