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Has Kylie Jenner Destroyed Snapchat?

Celebs February 23, 2018 By Hugo

Kylie Jenner's negative tweet about Snapchat has wiped a whopping $1.5bn of its share price according to Reuters Tech.

The Keeping up with the Kardashians star, who boasts 104m Instagram followers, and millions more on other platforms, simply tweeted, "sooo does anyone else not open Snapchat anymore? Or is it just me...ugh this is so sad."

Shutterstock/ Krista Kennell

Yet with millions influenced by her every word, the tech company's stock price plummeted, leading Kylie to write a follow-up tweet which read, "still love you tho snap...my first love." 

However, the stock price of the Silicon Valley giants had already been affected, with Jenner's tweet proving the tipping point after complaints about the app's changed layout was criticised.

Despite the unpopular layout change, its price remained stable and almost matched its 2018 peak until the social media's tweet sent the app into freefall. 

According to the brains at Reuters Tech, Snapchat's share price fell seven percent after Jenner's tweet, which equates to $1.5 billion of the company's value being wiped.

Speaking about the update fiasco last week, Chief Executive Evan Spiegel did his best to ease user's fears, but it appeared it was more his way of saying the update was there to stay.

Shutterstock/Faizal Ramli

"The complaints we're seeing reinforce the philosophy. Even the frustrations we're seeing really validate those changes," he said at the Goldman Sachs Internet & Technology Conference. "It'll take time for people to adjust, but for me, using it for a couple months, I feel way more attached to the service."

Keen to go in a similar direction to rivals Twitter and Facebook, the update intends to make the app more friendly for friends and publishers, and judging by the founder's additional comments on the matter, it appears more upgrades are on the way. 

"This new foundation is just the beginning, and we will always listen closely to find new ways to make the service better for everyone. We are grateful for your enthusiasm and creativity. We are very excited for what's ahead."

However, such creativity and enthusiasm may not be entirely useful for Snapchat, as 1.2m angry users have taken it upon themselves to sign a petition to get rid of the update.

What are your thoughts on the new update? Do you agree with Jenner and the 1.2m other angry users?

Let us know in the comments below.

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