Snapchat Parent Company Loses $1.3 Billion After Kylie Jenner Tweet
Snap Inc.'s shares fell by over six per cent in Thursday's trading, a loss of about $1.3 billion in market capitalisation.
Kylie Jenner. (Reuters photo)
Washington: Snapchat's parent company lost some USD 1.3 billion in market value on Thursday after reality star Kylie Jenner's tweeted that she was no longer using the messaging service.
Jenner tweeted, "sooo does anyone else not open Snapchat anymore? Or is it just me... ugh this is so sad" (sic). The tweet has garnered over 318,000 likes so far and 61,000 retweets.
She later followed it up with "still love you tho snap ... my first love," but the damage may already have been done.
Snap Inc.'s shares fell by over six per cent in Thursday's trading, a loss of about USD 1.3 billion in market capitalisation.
sooo does anyone else not open Snapchat anymore? Or is it just me... ugh this is so sad.— Kylie Jenner (@KylieJenner) February 21, 2018
Jenner has huge followings on various social media platforms, including Twitter and Instagram. On Twitter, she has over 24.5 million followers.
She gave birth to a daughter this month, and her Instagram post announcing the pregnancy quickly became one of the most liked posts of all time on the social media platform.
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