Kylie Jenner’s tweet drops Snapchat’s shares by 6%: Report
Kylie Jenner tweeted disapproval of Snapchat’s redesign calling it “so sad”.
Reality TV star Kylie Jenner, one of social media's most prominent influencers, has sent shares of Snap Inc. down more than 6% - apparently - with just one tweet.
Snapchat had recently rolled out a redesign of the app for iOS and Android users globally. Following the roll out, the update has received backlash from users globally leading to a change.org petition signed by over 6 lakh users.
The 20-year-old joined in on the negative response as she tweeted against the redesign of the company's video messaging app Snapchat, calling it 'so sad.'
"Sooo does anyone else not open Snapchat anymore? Or is it just me ... ugh this is so sad," she wrote.
sooo does anyone else not open Snapchat anymore? Or is it just me... ugh this is so sad.— Kylie Jenner (@KylieJenner) February 21, 2018
Later, she added, "Still love you tho snap," but it seems the damage may have already been done.
Following the tweet, which was liked more than 295,000 times, Snap Inc's stock price plummeted and the estimated loss in market value added up to about $1.5 billion, reports E! Online.
The new redesign has led to criticism not only from normal users but also celebrities. The app even received 83% negative reviews on Apple's App Store being. Despite that intense and occasionally high-profile criticism, Snapchat has committed not to reverse the redesign.
"The new 'Friends' page will adapt to you and get smarter over time, reflecting who you're most likely to be Snapping with at that moment. This same personalisation is also true of the new 'Discover', which will adapt to you the more that you use it," the company said.
Snapchat has however promised a new update in the coming days for its users. Snapchat will roll out a new feature called "Tabs" in the "Friends" and "Discover" sections which will make it easier for users to follow Stories.
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