The power of Kylie!
Kylie Jenner's tweet dismissing Snapchat may have cost the company $1.5 billion in market value.
The reality star and new mom tweeted on Feb. 21 that she never opens Snapchat anymore since the app's redesign. Less than 24 hours later, Snapchat's stock plummeted 7 percent, equaling a $1.5 billion loss, according to Reuters.
The loss may seem like a coincidence, but Kylie has widespread influence on social media with over 24.5 million Twitter followers and 104 million Instagram followers. She was also one of Snapchat's biggest fans and most active users.
Kylie later tried to repair the damage with a follow-up tweet on the same thread, saying "still love you tho snap … my first love."
Analysts do not yet know what exactly caused the loss — they say the drop is most likely attributed to the harsh criticism of Snapchat's redesign — but there's no denying that Kylie may have had an effect as well.