Kylie Jenner tweet wipes over a billion dollars off Snapchat market value

Snapchat value drops $1.3 billion after Kylie Jenner's tweet
Maybelline questions if it should stay on Snapchat
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25 February, 2018

He added that Jenner's tweet is "a negative issue for the company", estimating that Jenner was attracting roughly 24 million followers. And this week, the backlash to Snapchat's update has extended past us regular users to brands, as well.

Although not so serious, Jenner tweeted: "sooo does anyone else not open Snapchat anymore?" Since its rollout began at the start of the year, Snap has found itself defending the redesign, most recently on Wednesday when it responded to a Change.org petition with the title "Remove the new Snapchat Update". While celebrities do indeed have the power to move markets, the negativity towards the new version of Snapchat was already a rather widespread opinion. TMZ tried to ambush Kanye West and Kourtney Kardashian after they went to see Black Panther together in Calabasas, but they had no comment on whether Jenner is the new de facto head of the New York Stock Exchange.

Earlier this week, Citigroup downgraded the sell rating of Snap Inc. stock, citing the redesign as the main reason for doing so. What do you feel about Kylie's influence on the company's stock market value?

The new app also introduced a "dynamic Friends page", an artificial intelligence-powered tool that will display content from a user's friends based on the way he/she communicates with them.

When Kylie Jenner tweets, investors might be paying attention.

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In response to Jenner's message yesterday, Snap Inc. released a statement admitting that "new Snapchat has felt uncomfortable for many".

Snap answered that question Tuesday in a reply on the petition. As celebrities and "influencers" flock to Instagram, one of Snapchat's most famous users has publicly condemned the changes.

The tweet no doubt catapulted plenty of Kylizzle fans into a state of mourning, but Kylie did swiftly follow it up with: "still love you tho snap.my first love". Wall Street analysts too have begun to notice, citing recent user engagement trends noticed since the platform's redesign.

However, last week, Spiegel said that some complaints about the update actually "validate those changes".


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