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The previous week, Kylie Jenner posted about Snapchat, which appears to have been the cause of a loss of worth of $1.3 billion for the company. On the other hand, it seems to have had the opposite effect on Facebook, which is a competitor.
Why did Kylie Jenner’s Snapchat Tweet Have A Big Effect On The Value Of Facebook?
You probably remember that just a few days ago, a tweet posted by Kylie Jenner had an unexpectedly significant impact on the value of a particular social media platform. “I’m curious, does anyone else find themselves unable to open Snapchat? Or am I the only one… ugh, this is such a bummer, “She tweeted that the app’s new revamp, for which she received much criticism, did not sit well with her.
The tweet, which has garnered around 350,000 likes as of this writing, was followed by a decrease in the value of Snapchat’s stock of almost $1.3 billion. The impact it had on Facebook, though, is a different story. TMZ reports that Jenner’s tweet increased the worth of Facebook by an amount that is more than ten times more than the number that it appears to have cost Snapchat.
According to the outlet, Facebook’s value increased to $532.86 billion as of the close of business on Friday, which is more than $13 billion higher than what it was valued the day before, the day after her post. TMZ reported that two days after Jenner’s remark, Snapchat’s valuation remained at $21.41 billion despite the company’s efforts to recoup the value it had before Jenner’s tweet. (According to TMZ, its value before it was tweeted was $22.78 billion.)
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Of course, Kylie wasn’t looking at her phone (most likely) attempting to figure out how to make social media firms shake in their boots, despite the fact that she’s not the only one who doesn’t like the revamp. Even a petition on Change.org is being circulated in response to this matter.
The text of the petition goes as follows: “With the release of the new Snapchat update, many users have found that it has not made the app easier to use but has, in fact, made several things more complex.” “Many of Snapchat’s ‘new features’ are either pointless or work against the app’s primary goals, which it has been pursuing for the previous few years.” (For its part, Snapchat stands by the change and supports it.)
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