Single Kylie Jenner tweet costs Snapchat $1.7 billion

Snap investors are indecisive after Kylie Jenner's tweet about how she doesn't use the Snapchat app anymore wiped out $1.3 billion of the stock's market value on Thursday.

That is what Kylie Kristen Jenner has done with a tweet that is sure to be included in history books for centuries to come.

You can see Kylie's tweets below.

In another tweet she said, "Still love you tho snap.my first love".

When the New York Stock Exchange opened on Thursday, shares of Snap Inc were trading at around $18.50, but by 3 pm they had plunged to just over $17.

Maybelline New York also asked its followers if it should to leave the platform in order to maintain a connection with its audience in a since deleted tweet. The social media company, long criticized for not meeting competitor Instagram's success, showed signs of improvement during its last earnings call, with $285.7 million in revenue and a growth in user base of 8.9 million daily active users. Case in point: Jenner has shared more than 50 posts on Instagram Stories since abandoning Snapchat. When she blithely suggests that Snapchat isn't cool, Snap executives should worry. Users are not exactly happy about the new changes, and Snapchat is looking for ways to fix it.

The new app aimed to look better and easier to use but that didn't happen instead users complaint that the app looked messy. In the former version of Snapchat, those Stories were found in the Discover section that mostly has articles and videos from media companies. The sweet shot, in which Jenner revealed her little girl's name, Stormi Webster, became the social media platform's most-liked photo ever. And this week, the backlash to Snapchat's update has extended past us regular users to brands, as well.

It seems unimaginable that Jenner, 20, alone could cause such a drop in Snap's market value. Prior to the update, users could follow it like they would a friend, allowing for more organic, personal interaction-you know, the kind that fosters loyalty and product sales.

  • Julie Sanders