A single tweet by Kylie Jenner wipes out $1.3 billion of Snapchat's market value

Jenner has huge followings on various social media platforms, including Twitter and Instagram.

A single tweet by Kylie Jenner wipes out $1.3 billion of Snapchat's market value
Image Courtesy: Instagram

New Delhi: How much potential can a tweet have? Can it wipe out hundreds of millions of wealth of a company? Yes perhaps, if the tweet goes from reality star Kylie Jenner.

Jenner on Thursday tweeted that she was no longer using the messaging service.

"sooo does anyone else not open Snapchat anymore? Or is it just me... ugh this is so sad," Jenner tweeted.

Following the tweet Snapchat`s parent company Snap Inc lost some $1.3 billion in market value. Snap Inc.`s shares tanked by over six percent in Thursday trading, a loss of about $1.3 billion in market capitalization.

She later followed up with "still love you tho snap ... my first love," but the damage was already been done.

Jenner has huge followings on various social media platforms, including Twitter and Instagram.

She gave birth to a daughter this month, and her Instagram post announcing the pregnancy quickly became one of the most liked posts of all time on the social media platform.

Meanwhile, photo-sharing platform Snapchat reportedly grew faster than Facebook in the fourth quarter of 2017 in the US. Snap Inc., was quoted as saying that its daily average users in the region during the fourth quarter of 2017 rose five per cent from the prior quarter to 80 million.