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How one tweet from Kylie Jenner wiped out $1.3 billion of Snapchat's market value!
It might take two to tango, but it took just one tweet from Kylie Jenner to trigger a massive slide in Spanchat parent company's market value which was reduced by $1.3 billion on Thursday.

Close at the heels of American reality TV personality and social media sensation Kylie Jenner's tweet on Wednesday, Snap Inc.'s shares sank by a whopping 6.1 per cent on Thursday wiping out $1.3 billion in market value.

In her Wednesday's tweet, Jenner had revealed that she doesn't open the app anymore. As soon as her tweet appeared, her over 24.5 million followers largely appeared to agree with her in one unanimous voice and started posting similar replies.

However, what remains unclear is whether it's Kylie Jenner's newfound motherhood or the app's revamped design which is to be blamed for her lack of interest in Snapchat.

As if that wasn't enough, global cosmetics giant Maybelline New York soon followed suit and tweeted on Thursday, asking its followers whether it should remain on the platform. The Paris-based L'Oreal SA-owned beauty-product brand expressed that "Snapchat views have dropped dramatically," but it still wanted to remain connected with its followers.

According to Citigroup analyst Mark May, the app's redesign has received a lot of negative reviews which could cause user engagement to fall, causing further fall in the stock prices.

However, despite all the criticism of the app, Snap Inc.'s Chief Executive Evan Spiegal is all set to become one of the highest paid executives in the United States. After the company's IPO last year in March, Spiegal had received $636.6 million stock grant that will be payable through 2020.

To make up for her lost love for the app, Kylie Jenner later tweeted, "Still love you tho snap."

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