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Everyone’s Favorite Social Media Site Just Lost $1.3BIL Overnight After What BIG Celeb Said

Social media sites play a big part in most people’s lives these days as they have become integral parts of society and people’s routine. There’s no question that these massive corporations are giants in our world today, having a great deal of power and influence in society in a number of ways that have altered the way we live, think, communicate, and more. However, all it took was one major celebrity making a single public statement about a hugely popular social site for it to experience an unprecedented loss literally overnight.

It now seems to be that those who have the power over social media aren’t necessarily the sites themselves, at least as far as one site is concerned which just experience the result of an apparently huge influencer who spoke her mind. In this case, the celebrity who has nearly collapsed a big business is likely the least expected person to have been able to do so.

While many don’t care for Kylie Jenner, there’s aparently a lot of people who love her as there’s no denying the power she and the Kardashian clan has on social media. It’s often been a question why this family is so famous and you must look no further than what they have done on social media to build a massive name and fan base for themselves. Sure, some (okay most) of their posts seem salacious and self-indulgent, but every selfie and post is calculated to build their brands both as individuals and a family.

However, Kylie’s recent short statement online may have just been one she didn’t think much of, but caused a massive loss for Snapchat who may not be able to recover, at least completely.

Fox News reports:

Reality TV star Kylie Jenner tweeted: “sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad” Wednesday afternoon. Then the stock value of Snapchat’s parent company fell by 6 percent – amounting to $1.3 billion – by the next evening.

Snapchat is an app allows people to create “stories,” called “snaps,” using a variety of silly and cute special effects. The snaps only last 24 hours, which is part of their appeal. While Twitter, Facebook and Instagram hold content forever, Snapchat is for now only.

For a long time, it was unclear how Snapchat would have a sustainable business model. Instagram and Facebook co-opted some of its features almost immediately. Both Instagram and Facebook added the short-lived stories and Instagram picked up the special effects as well.

A big problem for Snapchat is its reliance on celebrity love to support its business. Celebrities in general, and Kardashian-Jenner sisters in particular, are not known for their sustained interest in a product or service.

Other internet companies should feel jittery over what happened to Snap. The same thing can happen to any company that requires a Kardashian to survive.

If one statement of disinterest in the site can cause an immediate mass exodus of users and profits overnight, then all other social media sites need to take note. People’s attention spans are shorter than ever, in part due to the saturation of social media in our lives and society’s need for immediate gratification. Perhaps what’s most concerning, however, is that the Kardashian/Jenner sisters have this much influence over people for having done not much more than put their lives (and bodies) on full display.

 

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