Last Thursday, SNAP’s stock went 6% down with an estimated stock loss of $1.3 billion USD. An interesting reason for this setback has been pointed out by the media, which is a huge warning call not just for Snapchat but for all social media platforms out there.
The power of social media influencers was reminded to us once again when the media started to make connections between Snapchat’s stock plunge and Kylie Jenner’s tweet, in which she shares that she is no longer interested in using the platform.
The image messaging platform that has added many features since its official release back in 2011 has become a favorite app for millennials.
The youngest of the Kardashian-Jenner clan has been an active user of Snapchat but the recent update that the platform made, which allows the users to view the content they are interested in easier, was not well-accepted not only by her but from many other users, who have turned to Instagram instead. Kylie went to Twitter, where she has 24.6 million followers, to share her disappointment and her thought on giving up on the platform. The Tweet went viral and more and more users begun to rely on it, which even sent Wall Street in a panic state.
Kylie, who recently has become a mother to a baby girl, has returned to Snapchat three days after she sent the unfortunate for SNAP tweet, sharing a video of her daughter on the platform.
Apparently, she isn’t all done with Snapchat, but all the fuzz around the tweet made us all once again focus on the power of social media influencers and how this may affect the future of even such a big and successful company as SNAP.