Snapchat Market Value Drops $1.3B After Single Tweet, CEO Earned $638M Last Year
If you live by social media, you die by social media. Just ask any musician who spent countless hours building an audience on MySpace audience (and now there are signs that Facebook is next). Today, the market value of Snapchat parent Snap Inc. fell $1.3 billion after a single tweet from a well known user.
sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.
— Kylie Jenner (@KylieJenner) February 21, 2018
Jenner's tweet comes as one million users sign a petition demanding that Snapchat roll back recent design changes.
It was also revealed today that Snap CEO Evan Spiegel is one of the highest paid executives in the U.S. The 27-year-old made nearly $638 million in 2017 incuding a stock award following the company's IPO.