Snapchat shares slump after Kylie Jenner tweet

Snapchat shares slump after Kylie Jenner tweet

It only takes one tweet from Kylie Jenner to wipe $1.3 billion (£1 billion) off Snap's (NYSE: SNAP) stock market value.

Jenner gave an update on Stormi in a tweet Wednesday, saying her baby girl looks "just like" she did when she was a baby.

United States celebrity Kylie Jenner yesterday wiped around $1.3bn (£900m) off the market value of Snap.

The reason probably was the redesign of the platform, which caused a mixed reaction from Kylie 9 February.

Many users have a complaint about the application's latest update, Kylie's tweet about not using Snapchat anymore worked as the testimony for the platform's sinking popularity. Snapchat recently made some changes to its interface and was already facing a negative remark from the users. I cannot understand what feelings it causes me.

Decline in user engagement from the poor redesign "could negatively impact financial results", wrote Citi analyst Mark May, according to CNBC. Similar steps taken in other banks.

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It changed the way Snapchat users view their friends' stories, and put a new emphasis on stories posted by celebrities and news organisations.

A Change.org petition garnered 1.2 million online signatures and even a response from the company that in essence said that the redesign was here to stay.

Just weeks after rolling out a new update to its app, Snapchat is struggling to win over its users. She has 104 million followers on Instagram.

The reality TV star and social media influencer, of Kardashian family fame, threw far-reaching shade, questioning whether anyone really uses Snap anymore.

Kylie Jenner's disparaging tweet about Snapchat isn't the most expensive message ever shared on Twitter (President Trump still has that record), but it does show the power of social influencers to move markets and to speak for millions of people. "Many "new features" are useless or defeat the original purposes Snapchat has had for the past years".

Matthew DiGirolamo, chief communications officer at Maybelline parent company L'Oréal United States of America, shared an emailed statement with the Journal that emphasized the company's "strong partnership" with Snap Inc., the parent company of Snapchat.