Snapchat lost around 1.3 billion dollars (£930m) in market value after reality star Kylie Jenner tweeted that she was no more using the sociable app.
The half-sister of Kim Kardashian informed her more than 24 million Twitter followers: “sooo does other people not open Snapchat anyone? Or could it be just me… ugh this is so unfortunate.”
Stocks in Snap – the app’s mother or father company – closed 6% down on the united states currency markets after Jenner’s post, that was in mention of a controversial recent redesign of the picture sharing app.
More that one mil people signed a big change.Org petition getting in touch with for Snapchat to revert to its earlier design, labeling the new version too difficult to use soon after its release.
Jenner later tweeted again in defense of the system.
still love you tho snap … my first love
— Kylie Jenner (@KylieJenner) February 21, 2018
“still love you tho snap … my first love,” she wrote.
The app’s redesign was initially announced in November, with founder and leader Evan Spiegel calling the change a means of separating the “social” and “media” content regions of the app to permit users to keep relatives and buddies separate from news and public content.
However, in response to the web petition, the company said it would make further changes to enhance the experience.
“We hear you, and appreciate that you took enough time to tell us how you are feeling. We completely understand the new Snapchat has experienced unpleasant for most,” the strong published in a post on Change.org.
“Beginning on iOS soon, and with Google Android in the arriving weeks, we are presenting tabs in Friends and find out, which will make it simpler to find the Stories that you want, when they are wanted by you.
“This new foundation is merely the beginning, and we’ll always listen closely to find new ways to help make the service better for everybody. We are grateful for your creativity and enthusiasm. We are extremely thrilled for what’s forward.”
Snapchat is facing extreme pressure from Facebook and the type of applications in its possession – including WhatsApp and Instagram – that have adopted Snapchat-like features lately to entice users to change services.
At around 180 million people, Snapchat currently has significantly fewer daily users than Instagram also, which has more than 500 million presently.