Kylie Jenner, Snapchat and a tweet that cost $1.5 bn
All it took was one tweet from Reality TV star Kylie Jenner and Snapchat lost $1.5 bn. The social media influencer's twitter rant reportedly sent Snap Inc. shares down by more than six percent. Kylie has a formidable presence on Snapchat but disapproved the app's new design by calling it "so sad".
"Sooo does anyone else not open Snapchat anymore? Or is it just me ... ugh this is so sad," she wrote.
She did try to save the situation by adding,"Still love you tho snap," but it was too little and too late. Reports say that the damage had already been done.
Jenner has 24.5 million followers on Twitter and her tweet was liked more than 2,95,000 times. According to an E! Online report, Snap Inc's stock price plummeted thereafter with the estimated loss in market value being $1.5 billion.
Snap Chat's new redesign has led to criticism not only from normal users but also celebrities but the Snapchat has committed not to reverse the redesign.