Entertainment

Kylie Jenner's Single Tweet About Snapchat Mopped $1.3 Billion Of App's Market Value

AASTHA SINGAL | 0
3328
| February 23 , 2018 , 14:38 IST

New mommy Kylie Jenner has a huge fan base, all of whom never fail to showcase their admiration for the reality TV star. However, their latest act ended up costing the popular image messaging application Sanpchat $1.3 billion.

Many users have a complaint about the application's latest update, Kylie's tweet about not using Snapchat anymore worked as the testimony for the platform's sinking popularity. Although her statement worked as a great influencer for her 24.5 million followers.

The youngest member of the Kardashian-Jenner clan on Thursday wrote, "sooo does anyone else not open Snapchat anymore? Or is it just me... ugh this is so sad." Following her tweet, an instant drop of 6.1 percent was noted in the company's share.

However, Kylie was quick to retract her words by professing her undying love for Snapchat along the lines, "still love you tho snap ... my first love" but the damage was already done. After a panicky date, Snapchat's share price closed near the $17 price.

While over 1.2 million users are complaining regarding the platform's inconvenient redesigned layout and signing petition to get the previous version back, Snapchat's Chief Executive Evan Spiegel is on his way to becoming one of the highest paid executives in the U.S.

After the company’s IPO last March, Spiegel got a $636.6 million stock grant that will be payable through 2020. Kylie recently launched a new cosmetic collection which is inspired by her newborn with Travis Scott whom they named Stormi Webster.