Snap Inc.’s stock market value dropped by 6% after Kylie Jenner announced on her Twitter account that she would no longer use Snapchat. Check out the Kardashians’ terrifying power!
Latest reports revealed that about $1.3 billion just got wiped off the Snapchat value after Kylie tweeted that she stopped using the app.
It looks like the shares in the app’s parent company Snap Inc. have dropped by the alarming percentage of 8% only this Thursday.
This just happened a few hours after Kylie told her 24.5 million followers that Snapchat is not appealing to her anymore.
Ky caused a fuss by tweeting yesterday morning that ‘sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.’
Later, Kylie might have changed her mind, and she tweeted another message that said ‘still love you tho snap… my first love.’
We believed that she was advised to post that second message by someone who is aware of the immense power of Kylie’s words.
This whole thing happened because back in November 2017, Snap Inc. launched a very unpopular redesign of Snapchat and fans were not enthusiastic at all.
They complained about the changes and the company’s boss Evan Spiegel said that the fans just have to get used to the app’s new layout and that’s it.
Snap Inc. responded to Kylie’s message from yesterday and surprisingly admitted that the ‘new Snapchat has felt uncomfortable for many”.
‘We hear you, and appreciate that you took the time to let us know how you feel. We completely understand the new Snapchat has felt uncomfortable for many. By putting everything from your friends in one place, our goal was to make it easier to connect with the people you care about most’ the statement said.
How about you? Do you like the app’s new layout? What do you feel about Kylie’s influence on the company’s stock market value?