With Just One Tweet, Kylie Jenner Helped Contribute To Snapchat’s $1.3 Billion Market Value Plunge
Imagine having an idea, working tirelessly grow a company out of that idea for several years, employing over 300 people who work to feed their families, garnering 187 million fans of your company, and then to have it all undermined by a 20-year-old reality television star.
Welcome to 2018, folks.
On Wednesday, Kylie Jenner tweeted to her 24.5 million followers about her disinterest in Snapchat. Less than 24 hours after the tweet, Snapchat’s shares plummeted by as much as 7.2%, equating to a $1.3 billion market value hit.
At the time of me writing this, the tweet has 256,000 likes and 46,000 retweets.
The market value hit also comes at the heels of Snapchat’s new app design, which many find convoluted and aesthetically displeasing. It’s impossible to determine how much Kylie’s tweet contributed to the stock plunge, but suffice it to say that one of the world’s most popular teenagers and the platform’s most recognizable users saying she’s like, so over the app is bad for business.
Likely recognizing the impact of her social footprint, Kylie followed up the tweet with a ‘jk, love ya,’ but the damage has already been done.
God, life must be so easy when you assert the authority to decide the fate of multi-billion dollar companies.
“No Comcast I will not go on hold or I will burn your entire company to the ground.”
A life without the headaches of Comcast. A man can only dream.