Snapchat's Value Drops $1.three Billion After 1 Kylie Jenner Tweet

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When Kylie Jenner tweets, traders could be paying consideration. That risk would possibly now have some social media platforms operating scared.

On Wednesday, Jenner, who has 24.five million fans on Twitter, threw colour at Snapchat with a tweet asking if somebody in truth used the app anymore. 

On Thursday, the inventory value of Snap, Snapchat’s father or mother corporate, fell about 6 p.c last at $17.51. That represented a $1.three billion loss in worth, in step with CNN Money.

To be honest, the timing of Jenner’s tweet and Snap’s decline in worth would possibly simply be a twist of fate. Citigroup downgraded the inventory on Tuesday as a result of November’s Snapchat redesign has alienated lots of its customers, in step with TechCrunch. 

“While the recent redesign of its flagship app could produce positive long-term benefits, the significant jump in negative app reviews since the redesign was pushed out a few weeks could result in a decline in users and user engagement, which could negatively impact financial results,” Citi’s Mark May stated in a commentary.

Whether Jenner’s snip at Snapchat used to be an element within the inventory drop is a topic of dialogue, however Bloomberg notes that Maybelline New York adopted her tweet by means of asking its fans whether or not it must keep at the platform.

And Jenner’s diss additionally reminds folks that the redesign alienated sufficient folks that 1 million of them signed a petition challenging the previous model of the app be introduced again, in step with the BBC.

Fortunately for Snapchat, it’s nonetheless imaginable Jenner might be wooed again, in accordance with a tweet she despatched a couple of mins after her preliminary diss.

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