SEVERE WX : Wind Advisory View Alerts

Snapchat stock loses $1.3 billion after Kylie Jenner tweet

Kylie Jenner is not happy about Snapchat's new ...

Posted: Feb 23, 2018 11:51 AM
Updated: Feb 23, 2018 11:51 AM

Kylie Jenner is not happy about Snapchat's new redesign.

Snap stock closed down 6% on Thursday after the reality TV star said she is no longer using the app. The plunge wiped about $1.3 billion off the company's market value.

Jenner has been one of Snapchat's most influential users.

"Sooo does anyone else not open Snapchat anymore? Or is it just me... ugh this is so sad," Jenner tweeted on Wednesday.

In another tweet she said, "Still love you tho snap ... my first love."

Related: Snapchat responds to users critical of redesign: 'We hear you'

Snapchat has been under fire from users who have criticized the app's new layout for being too confusing to navigate. Over 1.2 million people have signed a petition on Change.org asking Snapchat to remove the redesign.

Snap did not respond to a request for comment.

Jenner wields extraordinary influence on the platform. Her celebrity adds fuel to the backlash surrounding the app's major redesign, according to Daniel Ives, chief strategy officer and head of technology research at GBH Insights.

"We believe this is an overreaction as Wall Street is hypersensitive to the app redesign," he told CNN. "With roughly 25 million followers, [Jenner] carries a loud mouthpiece that speaks to today's knee jerk reaction in shares."

Ives believes the update was necessary to expand Snapchat's user base. He said the previous app design was confusing, and the format shunned older users and advertisers.

"Snap is doing the right strategic moves but needs to manage this process well," he said.

Related: Snapchat faces backlash after app redesign

Earlier this week, Snapchat announced an update aimed at making it easier for users to view content they want to see.

"We hear you, and appreciate that you took the time to let us know how you feel. We completely understand the new Snapchat has felt uncomfortable for many," the company wrote on Change.org, in response to the petition.

Snapchat said it will soon roll out tabs in the app's Friends and Discover sections to make it easier for users to find Stories, which are photos and videos shared by users that disappear after 24 hours.

Jenner isn't the only celebrity who has been vocal about disliking the redesign.

Earlier this month, model Chrissy Teigen tweeted: "How many people have to hate an update for it to be reconsidered?"

-- Daniel Shane contributed to this report.

New York Coronavirus Cases

County data is updated nightly.

Cases: 2769624

Reported Deaths: 57725
CountyCasesDeaths
Kings35194510985
Queens32876810428
Suffolk2593403697
Nassau2291983338
Bronx2142426810
New York1785074667
Westchester1494462357
Erie1283712079
Monroe1001491259
Richmond934401975
Orange63182944
Onondaga60869824
Rockland55960783
Dutchess38515513
Albany35159419
Oneida33993651
Niagara29625425
Broome28853437
Saratoga25582228
Schenectady19780248
Ulster19468293
Rensselaer17938197
Chautauqua15521197
Oswego14611138
Putnam13335101
St. Lawrence13331146
Chemung13197176
Steuben12958194
Ontario12079121
Jefferson11736108
Wayne10658105
Cattaraugus10337165
Cayuga9951114
Sullivan990390
Genesee8949146
Herkimer8587145
Clinton834948
Fulton8040115
Tompkins762561
Warren762198
Madison7614109
Livingston745977
Montgomery7406163
Washington698982
Tioga654874
Cortland619489
Allegany6191123
Columbia5880115
Orleans573096
Chenango572797
Franklin563027
Otsego557466
Wyoming551569
Greene507890
Delaware462553
Lewis431640
Seneca340069
Essex307338
Schoharie281624
Yates206134
Schuyler200720
Hamilton5253
Unassigned1482
Out of NY0340
Utica
Cloudy
31° wxIcon
Hi: 36° Lo: 28°
Feels Like: 31°
Oneonta
Partly Cloudy
28° wxIcon
Hi: 39° Lo: 27°
Feels Like: 21°
Herkimer
Cloudy
31° wxIcon
Hi: 39° Lo: 30°
Feels Like: 31°
Old Forge
Cloudy
31° wxIcon
Hi: 32° Lo: 16°
Feels Like: 31°
WKTV Radar
WKTV Temperatures
WKTV Severe Weather
2022 WKTV Golf Card only $99.99
Game Day Deals - New Deals Each Week
Stuff the Bus Locations
Saluting Those Who Are Proud 2 Serve