Did a Kylie Jenner Tweet Sink Snapchat's Stock?

Joshua Bennett
February 23, 2018

On Thursday, the stock fell 8% after reality TV star Kylie Jenner revealed she doesn't use Snapchat anymore.

After Jenner expressed her recent lack of interest in the popular, ephemeral photo and video sharing service, parent company Snap's stock dropped as much as 8.3 percent in value, wiping out almost $1.5 billion in market value.

"If Kylie can't make them change we are f--d", another wrote, adding his voice to the chorus of users pleading with the app to reverse course and go back to the old design (an online petition calling for change earned more than 1.2 million signatures).

Complaints are inevitable when apps and sites are redesigned, but the response to Snapchat's recent overhaul has been as thunderous as any in recent memory.

The petition started circulating after some intriguing tweet ensured the users that if 50,000 people will sign "change.org petition", then Snapchat will have to bring back the old version of the app.

"There is a general level of annoyance among users and many have chose to use a VPN app, or are using other risky apps or steps, to go back to the old Snapchat", said Rumsey in part.

She followed up with another tweet: "Still love you tho snap.my first love".

Citigroup recently downgraded Snap to a "sell" rating, citing negative response to its redesigned Snapchat app.

"[I'm] finally feeling better ...she's good still staring at her all day. she looks just like me when i was a baby " Kylie tweeted on Wednesday.
"We are very excited for what's ahead", the statement read. Her comment has been liked more than 2,000 times.

Those worries subsided somewhat when Snap reported February 6 that it added almost 9 million daily active users during the last three months of 2017, bringing its total audience to 187 million.

Snap boss Evan Spiegel had something to soften the blow, though, with news his total pay was a huge $600m past year. Last year, E! even launched a Snapchat companion show to her Life of Kylie series called Ask Kylie.

Snapchat has some exciting new things to share and there's also some bad news for the million users who felt the redesigned interface isn't good.

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