Snapchat shares drop after Kylie Jenner tweets about dislike of new update

Kylie Jenner apparently has something to do with Snapchat’s loss in market value.

Kylie

Yesterday Kylie Jenner hopped on Twitter to share her dislike for the new Snapchat design. She sent out a tweet asking her 24.5 million followers, “sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.”

Even though she followed up with another tweet a few minutes after reading, “still love you tho snap … my first love,” the social media network saw a huge decline in its market value.

Before Kylie’s tweet, Snap’s stock was sitting at $19.02, after her message to her fans, the stock dropped by over 6%, The Verge reports. The decline in the value adds up to a $1.5 billion loss.

Of course, this could be a huge coincidence, but being that Kylie is a huge influencer and user of the app, she’s bound to have some effect on a users decision to keep using the platform. Before Kylie’s tweet, SnapChat had to respond to a Change.org petition that asked the company to switch back to the previous layout.

“By putting everything from your friends in one place, our goal was to make it easier to connect with the people you care about most,”
Snapchat said in response to the petition. “The new Friends page will adapt to you and get smarter over time, reflecting who you’re most likely to be Snapping with at that moment. This same personalization is also true of the new Discover, which will adapt to you the more that you use it.”

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