With 24.5 million Twitter followers and as one of Snapchat’s most popular users, it’s hard to deny that Kylie Jenner is an influential person in the social media world. So, when Jenner announced on Twitter that she doesn’t open the Snapchat app anymore, this caused a serious Wall-Street financial crisis for Snapchat.
sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.
— Kylie Jenner (@KylieJenner) February 21, 2018
After she posted the tweet on Wednesday, the Snapchat parent’s shares sank as much as 7.2 percent on Thursday. This wiped out $1.3 billion of the app’s market value.
Since the new update, Wall Street analysts have begun to notice the public’s disinterest with the app, resulting in less user engagement. Mark May, a citigroup analyst, had to downgrade the stock to sell it after seeing a “significant jump” in negative reviews of the apps update. May expects that the reviews could cause user engagement to decline which will inevitably hurt the company financially.
Despite the public’s originally disliking for the update, Snap’s stock was set at $19.02. This seemed like an upturn for the company since the 1.2 million signature Change.org petition requesting the old design back. But after Jenner’s tweet, Snap’s stock immediately began to fall and it continues to drop.
Over 24.5 million of Jenner’s followers took to twitter to also express their disinterest with the app. One of those followers is Manny MUA, a famous YouTuber and make-up artist. He tweeted “it sucksssss 🙁 feel like there is no connection anymore.”
It sucksssss 🙁 feel like there is no connection anymore.
— Manny MUA (@MannyMua733) February 21, 2018
Others commented about how they have gravitated toward other social media platforms.
https://twitter.com/williamsheats/status/966430541196267520
This was also the moment that the term Snapchat trash was born…
Snapchat trash and we all know it. Thanks for confirming that.
— Morning Radio Host (@JasonCraig___) February 21, 2018
Along with thousands of other tweets, fans are calling on Snapchat to bring back the old update.
https://twitter.com/xsbz1903/status/966440978981715970
Who knows… We may just get the Snapchat best friends back. Later, Jenner tweeted expressing her fondness towards the app, calling it her “first love”.
still love you tho snap … my first love
— Kylie Jenner (@KylieJenner) February 21, 2018
But it seems like the damage has already been done.
It’s undeniable that we all hate the new update because of how complicated it got. It’s the farthest thing from user-friendly and we can all agree that we would kill to go back to the simpler times. Hopefully, Kylie can actually make a positive influence on this world and pressure the company to go back to the basics.
Featured image via “139579_9314” by Walt Disney Television / CC BY-ND
