Oh Snap! Kylie Jenner Posts a Tweet and Snapchat’s Price Plummets $1.3bn

Image: YouTube

Kylie Jenner posts a tweet. The world goes crazy.

Kylie Jenner (part of the Kardashian family and Kim’s half-sister), who has 24.5m followers, posted on Twitter on Wednesday 21st February evening, “sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.”

According to CNN, by yesterday’s close of business, Snap Inc. (Snapchat’s parent company) had fallen around 6% on Wall Street, closing at a price of $17.51 – a $1.3bn loss in value.

The volatile nature of Snapchat’s stock price points towards the market being unsure of the service. Is it the future of social communication, or just a far with an army of clearly fickle young users?

Jenner has been in the news most-recently for hiding the fact she was pregnant until she’d had the baby – no mean feat considering her social media following and her apparent influence.

Some might point towards Snapchat’s recent redesign of its user interface for it’s decline in value opposed to Jenner’s tweet, which has reportedly alienated many of its loyal users with a confusing new layout. According to the BBC, one million people have signed a petition for Snapchat to rollback their update.

Snap released a statement in response to the petition:

“We hear you, and appreciate that you took the time to let us know how you feel. We completely understand the new Snapchat has felt uncomfortable for many. By putting everything from your friends in one place, our goal was to make it easier to connect with the people you care about most. The new Friends page will adapt to you and get smarter over time, reflecting who you’re most likely to be Snapping with at that moment.”

After Facebook’s failed purchase of Snapchat back in 2013, Instagram (the Facebook owned company) started making adjustments to its platform to duplicate the best features of Snapchat in order to steal back the photo-sharing market. (https://thefullnineyards.com/single-post/2016/08/04/a-story-two-apps-instagram-goes-after-snapchat/).

Jenner’s tweet was liked 300k+ times and retweeted 58k times. Snapchat will be praying Jenner could be swayed back and if her reply to her tweet is anything to go by, their stock price could rocket back up relatively easily:

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