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    Home / News / Entertainment News / Kylie's tweet wipes out $1.3 billion of Snap's market value
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    Kylie's tweet wipes out $1.3 billion of Snap's market value

    Kylie's tweet wipes out $1.3 billion of Snap's market value

    By Mudit Bhatnagar
    Feb 23, 2018
    11:30 am

    What's the story

    Though she must not have intended to, Kylie Jenner ended up hurting Snap (Snapchat's parent company) massively and that too with just a single tweet. Her disapproval of the app brought down its market value by $1.3 billion.

    It so happened that Kylie wrote she does not even open Snapchat anymore and her 24.5 million followers did the rest.

    Twitter Post

    Here's the tweet by the reality television star

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

    — Kylie Jenner (@KylieJenner) February 21, 2018

    Details

    Snapchat's recent redesign was put to blame

    When the stocks of a company come down by 6.1%, blames are to follow. Although it wasn't clear what propelled Kylie to stop using Snapchat, several experts came out with their reasons.

    Wall Street analysts found the recent app redesign to be the cause of the massive downfall in user engagement.

    Background

    What led Kylie to tweet about Snapchat

    Kylie's tweet came after Maybelline New York asked its followers for an opinion on whether it should continue to stay on Snapchat or not as its views on the app have "dropped dramatically."

    However, Kylie later did compensate for her earlier tweet by writing, "Still love you tho snap, my first love."

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