Celebrities are highly influential people and that is one of the primary reasons why companies pay them a whopping amount of money to be their brand ambassadors. However, can one tweet hamper a company so much that its market value decreases by $1.3 billion? Well, apparently, it can happen if the tweet is from the reality star Kylie Jenner. Kylie Jenner on Thursday tweeted to her followers that she no longer uses Snapchat and wrote, “sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.” The supposedly innocent tweet by Kylie Jenner landed Snapchat in trouble and wiped out Snapchat’s parent company Snap Inc’s market value by $1.3 billion. Snap Inc’s shares plummeted down by over six percent on Thursday with a loss of $1.3 billion market capitalization.
Kylie Jenner tried to salvage the situation with some damage control and shared another tweet which read, “still love you tho snap … my first love.” However, the damage was done and there was no overcoming the plunge. Kylie Jenner is the daughter of Olympic medalist Caitlyn Jenner (originally Bruce Jenner previous to gender change) and Kris Jenner. She became a household name with the reality show Keeping up with the Kardashians in which she appeared with her mother, father (Caitlyn Jenner), sister Kendall Jenner, and stepsisters Kim Kardashian, Khloe Kardashian, and Kourtney Kardashian. Kim Kardashian’s Third Child Chicago West Makes an Appearance in Kylie Jenner’s Video Tribute to her Baby Daughter
Kylie Jenner’s tweet that did the damage to Snapchat
Kylie Jenner in damage control mode
Kylie Jenner has a huge fan following on various social media platforms such as Twitter and Instagram. Her tweet regarding Snapchat immediately became viral and fetched 58,082 Retweets and 308,667 likes on Twitter. Kylie Jenner gave birth to a daughter this month with Travis Scott and named her Stormi. Her Instagram post announcing the pregnancy had quickly become one of the most liked posts of all time on the social media.