When Kylie Jenner took to Twitter this week, fans were expecting an update on the newest addition to the Jenner/Kardashian clan – baby Stormi. Instead, the famed reality star posed a seemingly innocent yet powerful question to her 24.5 million followers:
Sure, it might just be a tweet, but here’s the rub. Just hours after Kylie’s megaburn, Snapchat’s parent shares sank a whopping 7.2 percent – costing the company $US1.3 billion ($1.7billion AUS) in market value.
Coincidence? Maybe, but by admitting she no longer opens the app, Kylie has basically confirmed what many have long been thinking – the kids no longer give a snap.
A recent redesign has seen the app struggle for the last few weeks, with active users making it clear they’re anything but happy. The criticism comes just as Citigroup analyst Mark May demoted the stock from neutral to sell on Thursday.
The lesson in all of this? Never under-estimate a Jenner – especially not one who wields more influence and power with the millennial generation than any other social media star, celebrity, or brand in the world.
What comes as the biggest surprise of all isn’t the overnight financial loss experienced by Snapchat, but rather the shock that a young reality start like Kylie, 20, could potentially influence a global company at all, let alone to this extent.
Kylie isn’t just the most successful member of her family (sorry Kim), she was also the youngest high-earning celebrity on the Forbes 2017 rich list. Her recent baby announcement even out-trended the Super Bowl on Twitter.
With a net worth hovering around the $50 million mark at just 20 years of age, Kylie’s clearly doing something (many, many things) right. Her biggest earner currently comes from her make-up line, Kylie Cosmetics, which has earned the beauty mogul $420 million since launching less than three years ago. According to a Women’s Wear Daily article published last year, Kylie Cosmetics is set to easily eclipse that number in the coming years. “If that growth trajectory continues, Kylie Cosmetics, wholly conceptualized, founded and helmed by Kylie is on track to become beauty’s next billion-dollar baby by 2022.”
Kylie’s other ventures include everything from a reality series, to a fashion line with sister Kendall, and a sponsorship deal with Puma.
With her finger so strongly on the pulse, Kylie has just reminded big business how important it is for brands and companies to focus on staying relevant, and listen to their customers.