Snapchat loses $1.3B in value after Kylie Jenner’s power tweet!

The reign of Snapchat is gradually approaching an end. First, the introduction of Instagram Stories, which largely diverted the attention of Snapchat lovers. Then Snapchat played themselves- by launching a new update that has had a myriad of bad feedback from its users. And now, their newest nightmare, who used to be their biggest fan, is- Kylie Jenner.

Snapchat Kylie
Selfie of Kylie taken with a Snapchat filter. Source: Instagram
So on Thursday, Snapchat added yet another problem to their already increasing number, Kylie! 

Reality television icon, Kylie Jenner, is one of social media’s most heavyweight influencers. If you doubted Kylie’s power on social media, then think again! When Kylie speaks about a product, expect her 105 million followers to listen. 
On Thursday night, Kylie joined the bandwagon of irritated Snapchat users. The recent mother took to Twitter to express her dislike for the new Snapchat update. She tweeted,

“sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.”
February 21, 2018

Not only Kylie’s followers saw this, it appears investors did too. This simple tweet has plunged the once prominent app, into a pool of falling value. 6% is how much this tweet cost Snapchat in value. This translates to more than a $1 billion drop in worth! 

Snapchat Kylie
Snapchat falls in value by 6% after Kylie Jenner’s tweet

Minutes after she tweeted this, Kylie added a counter tweet- “still love you tho snap … my first love.” But the damage had already been done! Now Snapchat’s shares are going for $17.51, just about the same price its shares were first listed, when the company floated on the stock market. Oops Kylie, too late!

“still love you tho snap … my first love.”
February 21, 2018

The redesign separates Snapchat into three parts: friends, the camera and photo-related features, and the Discover tab, which consists of curated and sponsored content, publishers and influencers. One of the major complaints about the new design was that, celebrities were removed from the tab where friends are found and placed instead in the Discover tab.

Snapchat Kylie

Snap explained the move as a bid to separate the social from the media when it first announced the rollout of the redesign in November. Yet users were in no agreement. This even sparked several debates between tech gurus; and a subsequent petition by Change.org, where over 1.5 million people signed for the motion to bring back the old Snapchat. 

However, it looked like Snapchat’s developers paid no mind. Comments made by their CEO, Evan Spiegel, indicated that there’s no going back. He further implied that users would eventually ‘adapt to the change’ and added that there’d soon be a new update that allows users to customize their Friends and Discover tabs to suit their taste. 
Tough luck huh?

In the end, we sure do hope that Kylie’s comments would be a wake-up call to Snapchat. Perhaps they’d finally bring back the old Snapchat.

INfleur wants to know what readers think. Was Kylie right? Do we need a reverse on the Snapchat update? Or we would, in Spiegel’s words, ‘adapt’? Leave comments below.

 

Amanda Lucy

AMANDA IS A 25 YEAR OLD COLLEGE GRADUATE. LOVES MUSIC,DANCE AND IS AN ARDENT USER OF THE INTERNET. YOU CAN FOLLOW HER INSTAGRAM @nana_yaba. SHE STARTED WRITING FOR INFLEUR IN NOVEMBER 2017

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