Is Snapchat over? Here’s how Kylie Jenner might have cost the company a whole lot of money!
Do you still regularly use Snapchat or have you all but abandoned it? Because Kylie Jenner is apparently done with the app and she’s letting the world know! On Feb. 21, the 20-year-old makeup mogul tweeted out, “sooo [sic] does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.” Afterward, the company’s stock took a serious drop! By the end of the trading day, Snap lost over 7%, according to Deadline. In actual dollars, that’s a loss of about a $1 billion!
Is Kylie responsible for those crazy loses!? Well, let’s back up a second and consider Snapchat’s recent redesign, which arguably has been extremely unpopular among users and they haven’t hesitated to share their misgivings on other platforms. Also, we should add that Snapchat’s stock has recently been downgraded from “neutral” to “sell.” Basically that means that even analysts believe their stock is losing value. Head here for loads more photos of Kylie looking fabulous!
Although there’s no argument that Kylie’s opinion definitely left an impact, it’s possible she simply stated a widely-held opinion at this point. “While Kylie’s tweet may have stood out, the drop in value represents a large amount of users expressing dissatisfaction, along with the market expressing genuine concern about how well the company is being managed,” Gil Eyal, founder of the marketing agency HYPR, told BuzzFeed News. “Giving so much credit to Kylie may be exciting, but even she has her limits.” We respectfully disagree!
sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.
— Kylie Jenner (@KylieJenner) February 21, 2018
HollywoodLifers, what do YOU think of Snapchat lately? Do you agree with Kylie? Do you still regularly use the messaging app or no? Share your thoughts and responses in the comments section below!