Kylie Jenner Pulls Snap Shares Down


The Keeping Up with the Kardashians star tweeted to her 24.5 million followers that she was less than enamoured with the radically redesigned social media platform.

Shares in Snap Inc., the company which owns the photo message app, tumbled in the hours after the tweet.

"So, does anyone else not open up Snapchat anymore?" Or is it just me...

She followed up her criticism by sending Snapchat a little love but it would seem the damage was already done.

Users claimed that the update "has not made the app easier to use, but has in fact made many features more hard ..." On, there has been a petition created to rollback the design, giving users the pre-2018 update that was preferred.

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So while Kylie Jenner's tweet may have caused Snap, Inc. stockholders to start selling off their shares, dropping the stock prices, it's not really Kylie's fault.

The furore surrounding Jenner's tweet came days after Citi analyst Mark May downgraded Snap after noting a "significant jump" in negative reviews of the app's redesign. A petition to "remove the new SnapChat update" has amassed more than 1.2 million signatures on Jenner previously questioned the Snapchat update on February 9. "Maybe it's Maybelline" - says it's actually happy with using Snapchat after an earlier tweet questioned its future on the app. "Snap is reliant on its users actually using the service to generate ad income".

The biggest change in the new version is separating "the social from the media".

In response to the online petition, the company promised further changes to improve the experience.

Daniel Ives, chief strategy officer and head of technology research at GBH Insights, said there's not too much to worry about if you're Snap. Nowhere is this more obvious than the stock market which is often only slightly less volatile than the rollercoaster ride that is investing in Bitcoin. Sanchez said, "I think it's going to be challenging because they're going to have to move into an older group and I'm not sure that's going to work".