Kylie Jenner’s tweet cuts $1.3 billion off Snap's market value; investment fund Vision Esports raises $38 million; and SpaceX successfully launches, but narrowly misses catching $6 million nose cone.
Snapchat parent’s shares sank as much as 7.2 percent on Feb. 22, wiping out $1.3 billion in market value, on the heels of a tweet from Kylie Jenner, who said she doesn’t open the app anymore, Bloomberg reports. Wall Street analysts too, have begun to notice, citing recent user engagement trends since the platform’s redesign.
Investment fund Vision Esports announced on Feb. 22 that it raised $38 million in a round led by Evolution Media, the investment firm backed by Creative Artists Agency and private equity fund TPG Growth, the Business Journal reports. Vision Esports used capital from its recent fundraising round to increase its stakes in its portfolio of e-sports companies, including e-sports franchise Echo Fox, e-sports record keeper Twin Galaxies and e-sports production company Vision Entertainment.
After launching its Falcon 9 rocket from California this morning, SpaceX used a giant net to try to recover the rocket’s nose cone as it fell down in the Pacific Ocean, The Verge reports. The first-time experiment failed, however, as one of the pieces of the nose cone missed the net, which was attached to a ship, and landed intact on the sea surface instead.
Technology reporter Garrett Reim can be reached at firstname.lastname@example.org. Follow him on Twitter @garrettreim for the latest in L.A. tech news.
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