Never underestimate the Jenner Kardashian effect. According to her reports, Snapchat’s parent company lost some $1.3 billion in market value on Thursday after reality star Kylie Jenner’s tweeted that she was no longer using the messaging service.
She had taken to Twitter and tweeted:
“sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad,”
She later followed up with “still love you tho snap … my first love,” but the damage may already have been done.
Snap Inc.’s shares fell by over six percent in Thursday trading, a loss of about $1.3 billion in market capitalization.
Mz. Jenner who is just 20 has huge followings on various social media platforms, including Twitter and Instagram.