Kyle Jenner Sends Snapchat Shares Into Freefall

Kyle Jenner Sends Snapchat Shares Into Freefall

Kyle Jenner Sends Snapchat Shares Into Freefall

Latest reports revealed that about $1.3 billion just got wiped off the Snapchat value after Kylie tweeted that she stopped using the app.

The value of many of these social networking brands is usurped by the value of its high-profile users, rather than the product or service they provide - and this is unsafe for their value.

"Sooo does anyone else not open Snapchat anyone?" Or is it just me... Following her tweet, an instant drop of 6.1 percent was noted in the company's share.

Tweet where a celebrity said that stopped using Snapchat, riveted the attention of not only followers Kylie (24.5 million people), but analysts on wall street. In fact, over 1 million people signed a petition to get Snapchat to revert back to the prior version. 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.

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Snapchat responded to the controversy on Tuesday, Feb. 20, saying that while the company would not eliminate the update's major changes to the app, it will add several new features to accommodate what users think is amiss. While the influence of Jenner and her ilk is undeniable, a more fair assessment of the value drop would be to acknowledge the generalised negativity around the update from such a vast amount of Snapchat users.

Shares in Snap, the app's parent company, closed 6% down on the USA stock market after Jenner's post. That's also the question that put an end to Snap's financial growth.

With Instagram launching Instagram Stories, a feature similar to Snapchat's stories, Hewitt said it was imperative that Snapchat listen to its users in order to retain custom-or risk losing them to the Facebook-owned rival.

"I've always been skeptical of Snap because I think it's very hard for them to monetize..." Bloomberg says Jenner's tweet, which was "Liked" more than 327,000 times, cost Snap $1.3 billion in market value.

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