With a single tweet yesterday, Kylie Jenner sucked $1.3 billion out of the market capitalization of Snap, Inc.
Her whole message ran just 18 words, and that includes “sooo” and “ugh.” It all ads up to more than $72 million lost, for each word she wrote.
Or is there something else going on?
I don’t have any inside information, but the timing of the tweet–the exact timing–makes me raise an eyebrow.
Here’s the background. Jenner is a social media influencer of the first order, making between $250,000 and $500,000 per post, according to one estimate.
That’s more money for a single post that almost everyone who reads this article makes in a year. Big-time influencer money.
Pretty impressive performance for a woman who won’t even be able to drink legally in the United States until August 10 of this year. But Jenner is a Kardashian (half-sister of Kourtney, Kim and Khloé Kardashian).
Whatever else anyone may say, the Kardashians are brilliant marketers. I’m not exactly their demo, but I have to respect something about what they’ve managed to build.
And, whatever else they do, they don’t do things like this without thinking it through.
So, three things.
First, the change in Snap’s design potentially impacts the degree to which Jenner–heck, any of the Kardashians–can make money on the platform. Those 1.2 million Snapchat users who signed the petition? They’re her audience.
If there’s a change, of course she’d make noise. Double irony points for doing so on Twitter.
Second, the timing of the tweet: 4:50 p.m. Eastern time–less than an hour after the U.S. markets closed.
I don’t have any inside information. It’s just a hunch, but it feels like a a warning shot: Hey Snap, pay attention to what I can do if I want to!
But, it also feels like it’s not intended as a fatal blow. In fact, KJ did tweet again, reminding Snap that it was her “first love.”
Sure enough, the stock price rebounded later Thursday, too. All’s well that ends well, right?
Mediabites Editorial – Shoaib Naqvi