“81, they’ll bring the crashers to the party / And you know me / Turn the O2 into the O3, dog.” — Drake
Yesterday, Kylie Jenner tweeted that she doesn’t open the Snapchat app anymore. And in one fell swoop, its stock price ended the day down 6%, erasing over $1 billion in market value — giving Evan Spiegel and his company plenty of reasons to drink on National Margarita Day.
As an aging Millennial, I haven’t really used Snapchat [N/K/A Snap Inc.] much. But many of my friends use the app and they insist that “you would love it!” Although I haven’t “Snapped” much, I’ve been quite intrigued by its business model and extraordinary run to an IPO, as well as its ability to maintain a SEAL Team-esque level of operations.
This week, I had the opportunity to review the newly published book titled, How to Turn Down a Billion Dollars: The Snapchat Story, by Billy Gallagher (affiliate link), a former fraternity brother of Spiegel.