Kylie Jenner’s Tweet Causes Snapchat To Lose $1.3 Billion!
For those who claim that social media is just a virtual phase that will eventually run its course; well we’ve got news for you!! A simple tweet from one mega celebrity can bring down tech giants. Case in point? Snapchat shares fell by 7.2 percent which equals the loss of $1.3 billion following Kylie Jenner’s controversial tweet a few days ago saying “Does anyone else not open Snapchat anymore? Or is it just me…ugh this is so sad.” However the damage was dead and done despite her having followed up the tweet with another to undo the damage by saying “still love you tho snap…my first love,”.
Kylie’s tweet came out because she apparently disliked Snapchat’s new update… as did everyone else!! And it seems that she hasn’t been posting much lately which probably distressed her fans. We the users have witnessed numerous updates to our favourite social media platforms and we have adapted ourselves to the changes despite our chagrin, so what’s the deal this time? Snapchat CEO Evan Spiegel defended the new update at a conference saying “It’ll take time for people to adjust,” he claims that he feels more attached to the redesign especially since he’s been using it for a couple of months now.
Some believe that Snapchat’s losses were someone else’s gain, Facebook this time. For it seems that Facebook’s value increased by $13 billion in the span of one day!! If you’re like me you might think why Facebook… if anything then it should be Instagram!! Well let me clarify a very important detail… Facebook OWNS Instagram (sorry if this is not exactly news for you!). Kylie has been using both Facebook and Instagram quite extensively lately especially with the launch of her Kylie Cosmetics Weather Collection.
So, whether it was Kylie’s influence, the new app’s redesign, or the fact that it was inevitable that Instagram will eventually bring down Snapchat (by copying most of Snaptchat’s features), or all of these factors put together… we may never know. But it is quite ironic that Snapchat’s “most-viewed” influencer was the one to actually bring it down.