Snapchat loses $1.3bn over Kylie Jenner’s tweet

Snapchat’s parent company lost $1.3 billion in market value on Thursday after reality star Kylie Jenner’s tweeted that she was no longer using the messaging service.

Snap Inc.’s shares fell by over 6% in Thursday trading, a loss of about $1.3 billion in market capitalization.

In reaction to kylie Jenner’s tweet,alot of her followers immediately stopped usage of Snapchat and that action took its toll on the application’s market value.

It is a well-known fact that kylie has huge followings on various social media platform and her influence on youths all over the world cannot be over-emphasized.

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