Kylie Jenner, star of Keeping Up With The Kardashians, maybe the reason behind Facebook’s $16 billion gain.
The 20-year-old new mom tweeted on Wednesday that she hardly uses Snapchat, probably because of its badly-welcomed redesign.
The following day, Snap Inc.‘s stock plunged 6%, or $1.3 billion.
Kylie Jenner was in the headlines once again, and it’s not because of her newborn baby or baby daddy Travis Scott.
It’s because of headlines stating Facebook owes Jenner $16 billion for her shade of Snapchat last week. Kim Kardashian’s half-sister made a controversial tweet on Feb. 22 and right after that, Facebook’s subsidiary, Instagram gained $16 billion!
“sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad,” Kylie tweeted.
Instagram is very similar to Snapchat, making them competitors. Snapchat lost an estimated $1.3 billion the next couple days after Kylie’s tweet saying she’s no longer a fan of the messaging app.
According to TMZ’s calculation, on the day Kylie “slammed” Snapchat, Snap Inc.‘s net worth was $22.78 billion. It plummeted to $21.41 billion just after two days.
How about Facebook? Valuing at $516.83 billion on Feb. 22, it rose to a whopping $532.86 billion two days later.
This only proves how Kylie, who’s not even a Hollywood actress, is very influential on social media with 24.5 million followers.